Eramet: net loss deepens in 2020
(CercleFinance.com) - Eramet has reported a net loss of 675 million euros for 2020, against a reduced loss of 184 million euros in 2019, with underlying operating income that is down 69% at 106 million euros, and EBITDA that is also down, falling 37% to 398 million euros.
The metals group's revenues fell by 3% to 3.55 billion euros (-2% LFL), penalised by the sharp drop in manganese ore prices (-19%), as well as the decline in aeronautics sales at Aubert & Duval.
Measures to preserve cash flow, such as a strict control of capex and working capital, will be continued in 2021. In addition, No dividend will be proposed at the general meeting of 28 May.
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