Eramet: sales down 17% in Q3
(CercleFinance.com) - Eramet posted adjusted sales of E809m for Q3 2024, down 17% y-o-y, reflecting a negative volume effect (-43%), partly offset by a positive price effect (+26%).
The manganese market has suddenly turned around, with a very sharp drop in Chinese demand, it points out, also mentioning the unexpected limitation of its annual nickel production authorisation in Indonesia.
The mining and metallurgy group says that it lowered certain production targets last week, and indicates that it expects H2 adjusted EBITDA to be higher than in H1, given the market context and on the basis of these targets.
In addition, Eramet announces the purchase of Tsingshan's minority stake (49.9%) in Eramine Sudamerica, for a net amount of $699m, a transaction finalised today, giving it 100% ownership of its Argentine subsidiary.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The manganese market has suddenly turned around, with a very sharp drop in Chinese demand, it points out, also mentioning the unexpected limitation of its annual nickel production authorisation in Indonesia.
The mining and metallurgy group says that it lowered certain production targets last week, and indicates that it expects H2 adjusted EBITDA to be higher than in H1, given the market context and on the basis of these targets.
In addition, Eramet announces the purchase of Tsingshan's minority stake (49.9%) in Eramine Sudamerica, for a net amount of $699m, a transaction finalised today, giving it 100% ownership of its Argentine subsidiary.
Copyright (c) 2024 CercleFinance.com. All rights reserved.