Half Year 2020 Mersen SA Earnings Call Transcript
Ladies and gentlemen, welcome to the presentation of the half year results of Mersen. We are here with Luc Themelin and Thomas Baumgartner. I'll hand over to Luc Themelin.
Hello, everyone. Thomas Baumgartner and I are happy to be with you today after another solid first half of the year. So I'll start by giving you a presentation of the period. And then, of course, Thomas will be giving you financial information. And then I'll come back to conclude with some of the challenges for the rest of the year.
So as you can see here, Mersen managed to put solid results in spite of the complicated context, especially in the second quarter. Our sales are EUR 430 million, with a drop contained at 11%. EBITDA margin is indeed down from last year. But came in at 14.4% of sales. And we have a solid natural situation with leverage at 2x EBITDA. So during this period, Mersen's team mobilized to ensure continuity of business, it was a very exceptional situation, particularly in the early moments of the lockdown. But 85% of our sites were
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