Linde (LIN) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Speaker0 Ladies and gentlemen, good day and thank you for standing by. Welcome to the Linde First Quarter twenty twenty five Earnings Call and Webcast. At this time, all participants are in a listen only mode. Please be advised that today's conference is being recorded. After the speakers' presentation, there will be a question and answer session. I would now like to hand the conference over to Mr. Juan Filaes, Head of Investor Relations. Please go ...

Linde (LIN) Q1 2025 Earnings Call May 01, 2025 09:00 AM ET Company Participants Juan Pelaez - Vice President of Investor RelationsSanjiv Lamba - CEO & Member of Board of DirectorsMatt White - EVP & CFOMichael Leithead - Director - Equity ResearchSteven Haynes - Vice President, Equity ResearchDavid Begleiter - Managing DirectorPeter Clark - Head of Global Chemicals Equity ResearchLaurent Favre - Managing DirectorMichael Sison - Managing DirectorJohn Roberts - Managing DirectorKevin McCarthy - PartnerJosh Spe ...

Core Insights - Technip Energies reported a strong start to 2025 with a 22% year-over-year growth in revenues and a 19% increase in EBITDA, reflecting the quality of order intake and execution focus [3][5][21] - The company confirmed its 2025 guidance with updated revenue ranges for its segments, indicating robust commercial momentum across key markets [5][9] - Technip Energies has a strong backlog of €18.2 billion, providing extensive revenue coverage and enabling cash returns to shareholders [3][17][49] Financial Performance - Q1 2025 adjusted revenue reached €1.85 billion, up from €1.52 billion in Q1 2024, while recurring EBITDA increased to €162 million from €137 million [4][21] - The adjusted recurring EBITDA margin slightly decreased to 8.7% from 9.0% year-over-year, reflecting a re-balancing in the project portfolio [6][21] - Net profit for Q1 2025 was €100.9 million, compared to €90.1 million in Q1 2024, with diluted earnings per share rising to €0.56 from €0.50 [6][8] Segment Performance - Project Delivery segment revenue grew by 34% year-over-year to €1.40 billion, driven by high activity in LNG projects [22][23] - Technology, Products & Services segment revenue decreased by 5% to €450.4 million, but recurring EBITDA increased by 8% to €65.3 million, benefiting from technology licensing [32][33] - The company has a commercial pipeline of over €70 billion in opportunities, well-diversified by geography and market [3][5] Strategic Initiatives - Technip Energies is actively engaged in strategic initiatives, including a digital acceleration plan expected to generate €100 million in annualized cost savings beyond 2028 [3] - The company was awarded a major contract for the world's largest low-carbon ammonia production facility in the U.S., showcasing its capabilities in modularization and large-scale facility delivery [3][30] - A new office and Research & Innovation Center were opened in India to enhance Technip Energies' presence and deliver innovative energy solutions [43] Operational Highlights - Key operational milestones include progress on various LNG projects in Qatar, Oman, and the UAE, as well as the commencement of pre-commissioning activities in Egypt [25][26][28] - The company secured a Front-End Engineering Design contract for a new Combined Cycle Gas Turbine power station with Carbon Capture in the UK, highlighting its commitment to decarbonization [30][31]

Core Insights - ArcelorMittal reported a net income of $805 million for Q1 2025, a significant recovery from a net loss of $390 million in Q4 2024, driven by higher operating income and foreign exchange gains [22][20][21] - The company achieved an EBITDA of $1.58 billion in Q1 2025, reflecting a decline of 4.5% from $1.65 billion in Q4 2024, primarily due to seasonal factors and negative price-cost effects in Europe [21][11] - The company’s sales remained stable at $14.8 billion in Q1 2025 compared to $14.7 billion in Q4 2024, with operating income increasing by 55.9% to $825 million [20][52] Financial Performance - The company generated $4.6 billion in net cash from operating activities over the past 12 months, with $2.7 billion allocated to maintenance and normative capex, resulting in an investable cash flow of $1.9 billion [2] - Free cash outflow for Q1 2025 was $1.4 billion, leading to an increase in net debt to $6.7 billion, while liquidity stood at $10.8 billion [2][24] - The company’s EBITDA per tonne was $116 in Q1 2025, which is favorable compared to the low points of previous cycles [2][11] Operational Highlights - Record production and shipments from Liberia's iron ore operations contributed to strong performance in the Mining segment, with total iron ore production of 11.8 million tonnes in Q1 2025 [7][44] - The company’s North American operations returned to normalized levels, with crude steel production of 2.26 million tonnes in Q1 2025 [25][26] - The company is on track with strategic growth projects, expecting an incremental EBITDA potential of $1.8 billion by 2027 [3][11] Strategic Focus - ArcelorMittal's optimized asset portfolio and repositioned balance sheet enhance its ability to navigate macroeconomic uncertainties while pursuing strategic growth [3] - The company is investing in decarbonization initiatives, with a capex envelope of $4.5-$5.0 billion planned for 2025, including $0.3-$0.4 billion for decarbonization projects [19][49] - The company has initiated a new long-term share buyback program, with the first tranche of 10 million shares commencing on April 7, 2025 [10][49] Market Outlook - The macroeconomic outlook remains uncertain, particularly regarding global trade disruptions, but the company has not altered its investment plans or capital return priorities [48][49] - The European Commission's Steel and Metals Action Plan is expected to support the company’s competitiveness against imports, while U.S. tariffs are aiding price stability [12][48] - Demand for low-carbon emission steel is anticipated to grow, supported by enhanced safeguards and anti-dumping measures [4][19]

Armstrong World Industries (AWI) Q1 2025 Earnings Call April 29, 2025 03:10 PM ET Speaker0 Thank you for standing by. My name is Amy, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Q1 twenty twenty five Armstrong World Industries Incorporated Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. It is now my pleasure to turn the call over to Theresa ...

Summary of CMB Tech and Golden Ocean Merger Presentation Industry and Companies Involved - **Industry**: Maritime and Shipping - **Companies**: CMB Tech and Golden Ocean Key Points and Arguments 1. **Merger Overview**: The merger between CMB Tech and Golden Ocean is a stock-for-stock transaction, with CMB Tech as the surviving entity. Post-merger, shareholders will own approximately 67.33% of the new company [3][2] 2. **Exchange Ratio**: The exchange ratio is set at 0.95 CMB Tech shares for one Golden Ocean share, valuing CMB Tech at $15.23 per share and Golden Ocean at $14.49 per share [3][2] 3. **Headquarters and Listings**: CMB Tech is headquartered in Antwerp with global offices. It is listed on NYC and Euronext in Brussels, while Golden Ocean's listings will disappear post-merger, with plans for a relisting on Oslo Burs [4][5] 4. **CMB Tech's Fleet**: CMB Tech operates a fleet of approximately 160 ships across five divisions, including dry bulk, chemical tankers, containerships, crude oil tankers, and offshore wind [6][8] 5. **Financials**: CMB Tech reported a net profit of CHF 870 million and has a liquidity of GBP 350 million, with a contract backlog of GBP 3 billion and outstanding CapEx of GBP 2.2 billion [8][9] 6. **Golden Ocean's Fleet**: Golden Ocean is the largest listed owner of Capesize vessels, with a fleet of 91 ships, an average age of around eight years, and a leverage of 37% on loan facilities [10][11] 7. **Combined Fleet Post-Merger**: The combined fleet will exceed 250 vessels, with a projected net asset value (NAV) of $14.9 per share and a significant reduction in average fleet age to six years [13][14] 8. **Decarbonization Strategy**: The merged entity will focus on low-carbon solutions, including modern eco fleets and ships capable of being retrofitted for hydrogen and ammonia [15][21] 9. **Market Outlook**: The company is positive on the tanker and dry bulk markets, with expectations of structural undersupply in the tanker market and healthy demand from Asia, particularly China [33][36][47] 10. **Regulatory Support**: The strategy aligns with European regulations aimed at decarbonization, including the proposed greenhouse gas tax set to be implemented in 2028 [22][21] Additional Important Content 1. **Investment Strategy**: The company aims to diversify investments across segments, allowing for flexibility in capital allocation based on market conditions [16][17] 2. **Fleet Modernization**: There is a focus on rejuvenating the fleet by potentially selling older vessels and investing in modern tonnage [60][61] 3. **Long-term Contracts**: The company emphasizes the importance of long-term contracts to stabilize cash flows and reduce risk [71][72] 4. **Bauxite Trade Growth**: The bauxite trade is expected to grow significantly, contributing to increased shipping demand for Capesize vessels [51][52] 5. **Challenges in Chemical Tankers**: The company remains cautious about the chemical tanker market, with limited spot exposure [55][56] This summary encapsulates the critical aspects of the merger presentation, highlighting the strategic direction, financial metrics, and market outlook for the combined entity.

Stable sales, –0.2% on an organic basisResilience in France and recovery in SwitzerlandIntegration of Cermix with VPI, strengthening the Group’s position in construction chemicals in FranceWeaker activity in India owing to a fierce competitive environmentConfirmation of FY 2025 guidance Consolidated sales in the first quarter of 2025: (€ million) First-quarter 2025 First-quarter 2024ChangereportedChange lfl*France281270+3.9%–0.1%Europe (excluding France)9592<td style="width:103.14px;;text-align: center ; ve ...

Cementos Pacasmayo (CPAC) Q1 2025 Earnings Call April 29, 2025 10:00 AM ET Company Participants Claudia Bustamante - Investor Relation ManagerHumberto Nadal Del Caprio - CEOEly Hayashi - CFONatalia Leo Paniagua - Equity Research Associate Conference Call Participants Marcelo Furlan Palhares - Equity Research Analyst Claudia Bustamante The call over to your questions. Please note that this call will include certain forward looking statements. These statements relate to expectations, beliefs, projections, tre ...

Armstrong World Industries (AWI) Q1 2025 Earnings Call April 29, 2025 10:00 AM ET Company Participants Theresa Womble - Vice President of Investor Relations & Corporate CommunicationsVic Grizzle - President & CEOChris Calzaretta - Senior VP & CFOZack Pacheco - Equity Research AssociateKeith Hughes - Managing DirectorPhilip Ng - Managing DirectorAdam Baumgarten - Managing DirectorStephen Kim - Senior Managing Director Conference Call Participants Charles Perron-Piché - AnalystRafe Jadrosich - Managing Direct ...

Technip Energies (PARIS:TE) has been awarded a significant (1) Detailed Engineering Design contract by Larsen & Toubro Limited (L&T) Hydrocarbon Business (L&T Energy Hydrocarbon – LTEH) for the North Field Production Sustainability Offshore Compression Project (NFPS COMP 4) of QatarEnergy LNG, the world’s premier LNG company. Under this contract, Technip Energies, having completed the Front-End Engineering and Design (FEED) phase, will provide Detailed Engineering Design for two offshore compression complex ...