Mersen Unsp/Adr

Ladies and gentlemen, welcome to Mersenne 2026 Q3 Sales. The webcast will be structured in two parts. First, a presentation by the Mersenne management team, represented by Salvador Lamas, Group CEO, and Thomas Baumgartner, Group CFO. Afterwards, there will be a Q&A session during which you may ask questions in two ways. By submitting a written question in the box below the player, or by clicking the green hand button on the player to ask your questions orally. I will now hand over to Salvador Lamas. Please go ahead.

Thank you. Good afternoon everyone and thank you for joining us. I'm pleased today to share that quarterly sales came in at a record level of 329 million and organic growth of 14.2%. What is encouraging is that this performance reflects positive momentum across both of our segments and all three of our main regions. Electrical power continues to accelerate, delivering organic growth of 22.8%. We are seeing very strong demand in several of our key markets, particularly data centers and power electronics. where our solutions play an important role in supporting the growing need for electrification and electrical infrastructure. At the same time, advanced materials return to organic growth of 6.4%. This is an encouraging development supported notably by demand in the silicon semiconductors and aeronautics as well. This combination is important. It is a clear demonstration It is worth noting that our strong performance was partly driven by price increases, which contributed approximately 4% to organic growth in the third quarter. Overall, this strong performance gives us the confidence to raise our organic sales growth guidance. And I will come back to this later in the presentation. But first, let me hand over to Thomas, who will take you through the third quarter performance in more detail.

Thank you, Salvador. Good afternoon, everyone. As Salvador mentioned, the 14.2% organic growth in sales was driven by all geographies. First, by strong growth in North America with 17.2%, we continue to see in the region a very dynamic activity for data centers. This is not the only growing market as aeronautics, wind or rail are also on a strong momentum. The second region, Asia-Pacific, is also very dynamic with organic growth of 18.6%. This growth is driven by all countries in the region. China with growth in wind and semiconductor offsetting the low level in solar. India with wind, rail and data centers and Korea driven by the silicon semiconductor market. Eventually, Europe also delivered a strong performance with organic growth of 9.5%, marking a clear improvement compared with the first half of the year. Growth was supported by aeronautics and several electrical infrastructure projects. If we look now by segment starting with electrical power, electrical power segment had posted a very strong growth, almost 23%. This was driven by strong growth for protection of data centers and by several projects in power electronics where we supply different passive components for OEMs. EV and Wind were also solid and as Salvador said the good performance includes also price increases to compensate largely for the inflation of components and raw materials. The advanced material segment also benefited from growth in several markets leading to an organic growth of 6.4%. First of all, silicon semiconductors and aeronautics Very strong growth. And as far as solar is concerned, we have not seen yet any sign of recovery. And finally, SIC semiconductor sales increased, but have remained as expected at a low level. On the other hand, the activity in chemicals suffered from the difficult situation of this market, as we mentioned it already in the first half. I would also like to briefly comment on the few highlights on the third quarter. First, we continue to meet the strong demand for fuses to protect data center installation in different regions in the US, but also in Asia. As far as silicon semiconductor is concerned, we have a solid market position, especially on the ion implantation phase. The growth is mainly fueled by AI and data center demand. In September, a third highlight, we have been selected by GE Vernova to contribute to a major project to strengthen the Saudi Arabian power grid as it integrates a growing share of renewable energy. and eventually during this quarter we have seen a strong growth in aerospace both in the military and the sewage segments and it's important to remind that both segments, material and electrical, are contributing to this market. So this achievement illustrates very clearly our positioning on key markets with long-term growth trends Electrification, Data Centers, Energy Transition and Sustainable Mobility. I now hand over to Salvador for more details on the 9-month sales figures and the guidance for the full year.