Ferroglobe Plc (NASDAQ:GSM) Q2 2022 Earnings Conference Call August 16, 2022 8:30 AM ET

Company Participants

Marco Levi - Chief Executive Officer

Beatriz Garcia-Cos - Chief Financial Officer

Benjamin Crespy - Chief Operating Officer

Benoist Ollivier - Chief Technology and Innovation Officer

Gaurav Mehta - Executive Vice President, Investor Relations

Conference Call Participants

Martin Englert - Seaport Research Partners

Brian DiRubbio - Baird

Thomas Murphy - Odeon Capital Group

Gregory Bennett - Morgan Stanley

Michael Lam - Jemekk Capital Management

Operator

Good morning ladies and gentlemen and welcome to Ferroglobe’s second quarter 2022 earnings call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will be given at that time. As a reminder, this conference call is being recorded.

I would now like to turn the call over to Gaurav Mehta, Ferroglobe’s President of North America, and Executive Vice President of Corporate Strategies, Technology and Investor Relations. You may begin.

Gaurav Mehta

Good morning everyone and thank you for joining Ferroglobe’s second quarter 2022 conference call. Joining me today are Marco Levi, our Chief Executive Officer, Beatriz Garcia-Cos, our Chief Financial Officer, and Benoist Ollivier, our Chief Technology and Innovation Officer.

Before we get started with some prepared remarks, I’m going to read a brief statement. Please turn to Slide 2 at this time.

Statements made by management during this conference call that are forward-looking are based on current expectations. Risk factors that could cause actual results to differ materially from those forward-looking statements can be found in Ferroglobe’s most recent SEC filings and exhibits to those filings, which are available on our webpage, www.ferroglobe.com.

In addition, this discussion includes references to EBITDA, adjusted EBITDA, adjusted gross debt, net debt, and adjusted diluted earnings per share, which are non-IFRS measures. Reconciliation of these non-IFRS measures may be found in our most recent SEC filings.

At this time, I would like to turn the call over to our CEO, Marco Levi. Slide 4, please.

Marco Levi

Good morning or good afternoon everyone. Today I’m really thrilled to present our second quarter results, which set a new company record in terms of our quarterly revenues, adjusted EBITDA, margins, profitability, and net debt level. In fact, the second quarter marks the sixth consecutive quarter dating back to Q4 2020 where we have consistently improved our performance in areas such as sales and adjusted EBITDA. Please keep in mind that adjusted EBITDA was negative in 2019 when this management team took over.