Acerinox, S.A. (ANIOY) Q2 2026 Earnings Call Transcript

Good morning, everyone, and welcome to the Acerinox Second Quarter Results Presentation. This quarter has been a very positive quarter for the group despite the continuing geopolitical uncertainties and regional conflict -- with an 85% quarter-on-quarter EBITDA increase, the strength of the stainless steel division in the U.S. has again proved to be the driver of our solid results. It is noteworthy to mention the strong order book in the aerospace and defense sectors as well as the recovery of Acerinox Europa within the European market. The new trade measures have started the 1st of July, and we are optimistic with regard to the future of the European steel industry. For this presentation, we will hear from our CEO, Bernardo Velazquez; our Chief Corporate Officer, Miguel Ferrandis; and our CFO, Esther Camós. Before we start with the presentation, let me remind you that this conference call is being broadcast on our website, acerinox.com. And now I hand you over to our CEO. Bernardo, please go ahead. Bernardo Velázquez Herreros CEO & Executive Director Thank you, Carlos. Good morning, everyone, and welcome to the Acerinox Q2 results presentation. You all know that we have a new