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Aperam: annual earnings down over a third

( - Stainless steel manufacturer Aperam has reported 2022 earnings down around 35% to 625 million euros, while adjusted EBITDA improved by 6.
5% to 1.13 billion euros, on sales growth of 60% to nearly 8.16 billion euros.

In Q4, de-stocking and fear of recession affected demand, while cost inflation and valuation effects also weighed on profits, notes CEO Timoteo Di Maulo, who nevertheless believes that the company has passed the cyclical trough.

Aperam will propose to maintain its annual dividend at two euros per share, subject to approval by the general meeting on 2 May. It expects Q1 2023 EBITDA to be higher than in Q1 2022.

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