Gestamp Automocion S A

Good evening. We welcome you to the Gestamp 9 Months 2026 Result presentation. During the presentation, all participants will be on a listen-only mode. There will be an opportunity to ask questions after the presentation. If you wish to ask a question during the Q&A session, you may do so by pressing the star followed by 5 on your telephone keypad. I'll now hand the conference over to the Gestamp team. Please go ahead.

Hi, good evening, and thank you all for joining our nine-month result presentation. This call will be led, as usual, by our executive chairman, Mr. Francisco Riberas, and myself, a group CFO. Together with us, Gonzalo de Borja, our new financial planning and investor relations director. As usual, please let me refer you to the disclaimer on slide two of this presentation. And as the introduction has said, reminding you that at the end of the call, we will open up the floor for our Q&A session. Now, let me hand over the call to our Executive Chairman.

Good morning, and thanks all for attending our nine-month results call. First of all, I say that our third quarter results year-to-date remain solid, despite a challenging scenario, with our revenues up to September reaching $8.4 billion, which represents a flat organic growth and a slight outperformance This was the market in the period. In the first nine months of the year, our EBITDA has reached 954 million euros, which means an 11.3% EBITDA margin, which is 27 basic points better year on year. And also with a good performance in terms of free cash flow, which has helped us to control our debt and to achieve a leverage of 1.4 times debt to EBITDA already in the third quarter. During the first nine months of the year, light vehicle production has reduced by 0.7% in Hestan footprint, reaching 62.2 million units in the period. Even if the global manufacturing has been rather flat, there are mixed regional dynamics, with a severe drop in China of 5.5%, some slight decrease in Western Europe and North America, and a good performance in countries such as India or Brazil. Moving to slide 6, up to September, staff revenues have outperformed the market by 0.8% in our footprint, with a clear outperformance in Europe, both in our West and East operations, and also in Mercosur, and an underperformance in North America, mainly in Mexico. and in Asia, mainly driven by the drop in China, and even in the rest of Asia, we have outperformed the market by 16%. Our nine-month reported revenues have decreased by 0.6% in the period, reaching 4.8 billion euros, with flat organic gold supported by an increase of our scrap revenues and partially offset by negative forex evolution and many more. Moving to slide 8, even if there is some decrease in reported revenues, we have been able to increase our profitability in our auto business. In fact, our year-to-date auto revenues have decreased by 1.5% or €119 million, but our year-to-date automotive EBITDA has increased by 1.1% or or 10 million euros which means 30 basic points improvement of our EBITDA margin from 11.2% to 11.5% after September. We have been able to achieve this thanks to the correct right sizing of our operations and working in adapting our capacities and a continuous effort in different cost reduction programs efficiency and productivity measures Some constructive customer negotiations and also delivering, of course, in our Phoenix turnaround in North America. So following September results, we are on track for the execution of the full year guidance of 11.9% for our auto test. In terms of FENIX, even if production volumes in North America are far away from the expected volumes when we announced the FENIX plan, 1.5 million units less, STAM is fully committed to reach our target of 10% EBITDA margin for this year. Up to September, we have included already 80% of the extraordinary impact expected for 2026. And in the third quarter 26, we have already achieved a 10.5% EBITDA margin and increased from the 8.8% margin in Q2. And with the traditional seasonal strength of the fourth quarter, we are on track to reach 10% full year EBITDA margin this year. For the scrap, the scrap prices have increased substantially compared to 2025 level everywhere in the world. Due to the improving market conditions, HESCRAP has been able to increase revenues after September by 17%, reaching 416 million euros. In terms of profitability, EBIT margin has increased from 5.8% to 6.2% in the year, reaching already 28.5 million euros. So positive results year to date, supporting our full year guidance for HESCRAP of more than 7.4% extra margin in the year. And now I hand it over to Ana.