<\/p>\n
Orion S.A. Reports <\/span>Second Quarter 2025 Financial Results<\/span><\/b><\/p>\n HOUSTON–(BUSINESS WIRE<\/a>)– Second Quarter 2025 Highlights<\/span><\/b><\/p>\n Six Months 2025 Highlights<\/span><\/b><\/p>\n Other Highlights<\/span><\/b><\/p>\n 1<\/sup> The reconciliations of Non-U.S. GAAP (\u201cGAAP\u201d) measures to the respective most comparable GAAP measures are provided in the section titled Reconciliation of Non-GAAP Financial Measures<\/i> below.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u201cOur second quarter results were in line with our expectations, helped by an improved sequential plant performance,\u201d stated Corning Painter, Chief Executive Officer.<\/p>\n \n\u201cWe overcame persistent demand headwinds related to elevated tire imports, which have continued to pressure key tire customers, along with broader customer hesitancy reflecting considerable macro uncertainty,\u201d continued Painter. \u201cOur revised 2025 Adjusted EBITDA guidance range assumes no meaningful recovery in our industrial end markets over the balance of 2025.\u201d<\/p>\n \n\u201cWe are resolutely focused on levers to improve cash flow,\u201d stated Orion\u2019s Chief Financial Officer Jeff Glajch. \u201cEven with the persistent macro headwinds, we expect to reach our previously conveyed goal of more than $50 million of free cash flow for 2025.\u201d<\/p>\n Second Quarter 2025 Overview:<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume and EPS data)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n240.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n233.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.0%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n466.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n477.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.2)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n98.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n109.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11.4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.4)%<\/p>\n<\/td>\n<\/tr>\n \nIncome from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(22.8)%<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(56.1)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted net income(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(25.7)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8.4)%<\/p>\n<\/td>\n<\/tr>\n \nBasic EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.19)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(54.3)%<\/p>\n<\/td>\n<\/tr>\n \nDiluted EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.19)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(54.3)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted Diluted EPS(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.41<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.09)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(22.0)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe reconciliations of Non-U.S. GAAP (\u201cGAAP\u201d) measures to the respective most comparable GAAP measures are provided in the section titled Reconciliation of Non-GAAP Financial Measures<\/i> below.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nVolume increased by 6.9 kmt, year over year, due to higher volume in the Rubber Carbon Black segment. Net sales decreased by $10.6 million, or 2.2%, year over year, driven primarily by lower oil prices. This was partially offset by higher Rubber Carbon Black segment volume, favorable foreign exchange rate impact and higher cogeneration. Gross profit decreased by $11.4 million, or 10.4%, year over year, to $98.4 million. The decrease was driven primarily by lower volume in the Specialty Carbon Black segment, unfavorable timing from the pass-through of raw material costs and unfavorable customer and regional mix in the Rubber Carbon Black segment.<\/p>\n \nIncome from operations decreased by $9.5 million, or 22.8%, year over year, to $32.1 million. The decrease was driven primarily by softer demand in the Specialty Carbon Black segment and unfavorable timing from the pass-through of raw material costs. Net income decreased by $11.5 million, or 56.1%, year over year to $9.0 million. Adjusted EBITDA decreased by $6.3 million, or 8.4%, year over year, to $68.8 million. The decrease was driven by lower volume in the Specialty Carbon Black segment, unfavorable price and unfavorable timing from the pass-through of raw material costs, partially offset by higher cogeneration.<\/p>\n Quarterly Business Segment Results<\/b><\/p>\n SPECIALTY CARBON BLACK<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4.9)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7.8)%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n158.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n165.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(7.4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4.5)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.9)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17.5)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8.1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(28.9)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nSpecialty Carbon Black segment volume declined by 4.9 kmt, or 7.8%, year over year, primarily due to lower demand in the Europe, Middle East and Africa, as well as the Americas region. Net sales decreased by $7.4 million, or 4.5%, year over year, to $158.1 million, primarily due to lower volume and lower oil prices. Adjusted EBITDA declined by $8.1 million, or 28.9%, year over year, to $19.9 million. The decrease was primarily due to lower volume and unfavorable price and product mix.<\/p>\n RUBBER CARBON BLACK<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n182.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n170.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.9%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n308.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n311.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1.0)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n65.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n70.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.4)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n48.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.8%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nRubber Carbon Black segment volume increased by 11.8 kmt, or 6.9%, year over year, due to higher demand in the Asia Pacific and Americas regions. Net sales declined by $3.2 million, or 1.0%, year over year, to $308.3 million, primarily due to the pass-through of lower oil prices, partially offset by higher volume. Adjusted EBITDA increased by $1.8 million, or 3.8%, year over year, to $48.9 million, driven primarily by lower fixed costs and higher cogeneration, partly offset by unfavorable timing from the pass-through of raw material costs.<\/p>\n Six Months 2025 Highlights<\/span><\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume and EPS data)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n491.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n481.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.1%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n944.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n979.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(35.8)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3.7)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n196.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n232.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(35.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15.3)%<\/p>\n<\/td>\n<\/tr>\n \nIncome from operations<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n94.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(31.1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(32.9)%<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(29.1)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(61.7)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted net income(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24.3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(43.9)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n135.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n160.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(25.4)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(15.8)%<\/p>\n<\/td>\n<\/tr>\n \nBasic EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.81<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.49)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(60.5)%<\/p>\n<\/td>\n<\/tr>\n \nDiluted EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.80<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.48)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(60.0)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted Diluted EPS(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.55<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.93<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(0.38)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(40.9)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n (1)<\/sup><\/p>\n<\/td>\n \nThe reconciliations of these non-GAAP measures to the respective most comparable GAAP measures are provided in the section titled Reconciliation of non-GAAP Financial Measures<\/i>.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nVolume increased by 10.2 kmt to 491.7 kmt compared to the six months ended June 30, 2024, primarily due to higher Rubber Carbon Black segment volume, partially offset by lower Specialty Carbon Black segment volume. Net sales decreased by $35.8 million, or 3.7%, in the six months ended June 30, 2025 to $944.1 million year over year, primarily driven by the pass-through of lower oil prices, and lower Specialty Carbon Black segment volume. Those were partially offset by higher volume in the Rubber Carbon Black segment and higher cogeneration. Gross profit decreased by $35.5 million, or 15.3%, year over year to $196.5 million. The decrease was primarily driven by unfavorable impact from the pass-through of raw material costs, partially offset by higher cogeneration.<\/p>\n \nIncome from operations decreased by $31.1 million, or 32.9%, year over year to $63.3 million. The decrease was driven primarily by softer demand in the Specialty Carbon Black segment and unfavorable timing from the pass-through of raw material costs. Net income decreased by $29.1 million, or 61.7%, year over year to $18.1 million. Adjusted EBITDA decreased by $25.4 million, or 15.8%, from $160.4 million in the six months ended June 30, 2024 to $135.0 million in the six months ended June 30, 2025. The decrease was primarily due to lower volume in the Specialty Carbon Black segment, unfavorable timing from the pass-through of raw material costs and unfavorable customer and regional mix in the Rubber Carbon Black segment. Those were partially offset by higher cogeneration.<\/p>\n Six Months Business Segment Results<\/span><\/b><\/p>\n SPECIALTY CARBON BLACK<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n119.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n126.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6.3)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5.0)%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n318.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n336.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17.6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5.2)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n72.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n81.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8.6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.6)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n45.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n55.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.6)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19.0)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nVolumes decreased by 6.3 kmt, or 5.0%, year over year to 119.9 kmt for the six months ended June 30, 2025, primarily due to lower demand in the Europe, Middle East and Africa, as well as the Americas region. Net sales decreased by $17.6 million, or 5.2%, year over year to $318.8 million for the six months ended June 30, 2025, primarily due to lower volume and lower oil prices. Adjusted EBITDA decreased by $10.6 million, or 19.0%, year over year to $45.3 million for the six months ended June 30, 2025. The decrease was primarily due to lower volume and unfavorable price and product mix.<\/p>\n RUBBER CARBON BLACK<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Year-Over Year<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except volume)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Delta<\/b><\/p>\n<\/td>\n<\/tr>\n \nVolume (kmt)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n371.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n355.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.6%<\/p>\n<\/td>\n<\/tr>\n \nNet sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n625.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n643.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(18.2)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.8)%<\/p>\n<\/td>\n<\/tr>\n \nGross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n150.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(26.9)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(17.8)%<\/p>\n<\/td>\n<\/tr>\n \nAdjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n89.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n104.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14.8)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14.2)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nVolume increased by 16.5 kmt, or 4.6%, year over year to 371.8 kmt, for the six months ended June 30, 2025, primarily due to higher demand in the Asia Pacific and Americas regions. Net sales decreased by $18.2 million, or 2.8%, year over year to $625.3 million for the six months ended June 30, 2025, primarily due to the pass-through of lower oil prices, partially offset by higher volume. Adjusted EBITDA decreased by $14.8 million, or 14.2%, to $89.7 million for the six months ended June 30, 2025, driven primarily by unfavorable timing from the pass-through of raw material costs and unfavorable customer and regional mix.<\/p>\n Outlook<\/b><\/p>\n \n\u201cWe are narrowing our guidance ranges to factor in a surge of tire imports into North America during the second quarter, as well as revised macro assumptions for the second half of 2025. Our revised Adjusted EBITDA range is $270 million \u2013 $290 million and the corresponding Adjusted EPS range is $1.20 \u2013 $1.45. We are again reaffirming our prior free cash flow guidance range at $40 million \u2013 $70 million.\u201d Mr. Painter concluded.<\/p>\n \nAs previously announced, Orion will hold a conference call tomorrow, Thursday, August 7, 2025, at 8:30 a.m. (EDT). The dial-in details for the live conference call are as follows:<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nU.S. Toll Free:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1-877-407-4018<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInternational:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1-201-689-8471<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nA replay of the conference call may be accessed by phone at the following numbers to Thursday, August 21, 2025:<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nU.S. Toll Free:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1-844-512-2921<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInternational:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1-412-317-6671<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nConference ID:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13753912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nAdditionally, an archived webcast of the conference call will be available on the investor section of the company\u2019s website at www.orioncarbons.com<\/a>.<\/p>\n \nTo learn more about Orion S.A., visit the company\u2019s investor website at www.orioncarbons.com<\/a>, where we regularly post information including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.<\/p>\n About Orion S.A.<\/b><\/p>\n Condensed Consolidated Statements of Operations (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three Months Ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except share and per share data)<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net sales<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 466.4<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 477.0<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 944.1<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 979.9<\/b><\/p>\n<\/td>\n<\/tr>\n Cost of sales<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 368.0<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 367.2<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 747.6<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 747.9<\/b><\/p>\n<\/td>\n<\/tr>\n Gross profit<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 98.4<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 109.8<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 196.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 232.0<\/b><\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n116.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n121.8<\/p>\n<\/td>\n<\/tr>\n \nResearch and development costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.1<\/p>\n<\/td>\n<\/tr>\n \nOther expenses, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2.7<\/p>\n<\/td>\n<\/tr>\n Income from operations<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 32.1<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 41.6<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 63.3<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 94.4<\/b><\/p>\n<\/td>\n<\/tr>\n \nInterest and other financial expense, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n19.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n32.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24.9<\/p>\n<\/td>\n<\/tr>\n Income before earnings in affiliated companies and income taxes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 13.0<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 29.4<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 30.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 69.5<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22.6<\/p>\n<\/td>\n<\/tr>\n \nEarnings in affiliated companies, net of tax<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3<\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 9.0<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 20.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 18.1<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 47.2<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted-average shares outstanding (in thousands):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,153<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58,388<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58,514<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,320<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,185<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56,829<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,229<\/p>\n<\/td>\n<\/tr>\n \nEarnings per share:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.81<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.16<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.35<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.32<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.80<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Condensed Consolidated Balance Sheets (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except share amounts)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n June 30, 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2024<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n ASSETS<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Current assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n42.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n44.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n270.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n211.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInventories, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n285.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n290.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome tax receivables<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n69.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n54.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total current assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 682.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 613.3<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProperty, plant and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,030.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n965.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n120.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n117.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n71.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntangible assets, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInvestment in equity method affiliates<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income tax assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n66.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total non-current assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,342.4<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,244.0<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,024.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,857.3<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/span><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Current liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n173.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n156.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCurrent portion of long-term debt and other financial liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n342.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n258.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n39.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome taxes payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther current liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n57.4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total current liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 620.8<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 516.7<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLong-term debt, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n680.2<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n647.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEmployee benefit plan obligation<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n66.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n58.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred income tax liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n130.1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n123.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total non-current liabilities<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 937.6<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 865.7<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Stockholders’ Equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAuthorized: 65,992,259 and 65,992,259 shares with no par value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIssued \u2013 60,992,259 and 60,992,259 shares with no par value<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOutstanding \u2013 56,046,226 and 57,242,372 shares<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n85.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n85.3<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTreasury stock, at cost, 4,946,033 and 3,749,887<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(90.3<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(82.2<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n84.7<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n471.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n457.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccumulated other comprehensive loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(73.6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(69.9<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n Total stockholders’ equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 466.5<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 474.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Total liabilities and stockholders’ equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,024.9<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,857.3<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Condensed Consolidated Statements of Cash Flows (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six Months Ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n
\nOrion S.A. (NYSE: OEC), a specialty chemical company, today announced financial results for the period ended June 30, 2025 as follows:<\/p>\n\n
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\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \u00a0(1)<\/sup><\/td>\n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n
\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \u00a0<\/td>\n \u00a0<\/td>\n \n \n
\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n