Aperam: a solid Q3 and encouraging outlook
(CercleFinance.com) - On Friday, Aperam reported a return to profitability in Q3, on the back of higher sales, with strong activity in Brazil more than offsetting a more difficult market in Europe.
The specialty steel producer posted a net profit of E179m in Q3, compared with a loss of E42m a year earlier.
Its Ebitda reached E107m, compared with E19m in Q3 2023, for an Ebitda/tonne up to E173 from just E37 a year ago, despite the traditional unfavourable effect linked to the summer season.
The group reports that it delivered 617,000 tonnes in the quarter, compared with 516,000 a year earlier, on the basis of a higher average selling price of E2,279 per tonne for the stainless steel and electrical steels segment, its main division, compared with E2,412 a year earlier.
For Q4, Aperam says it is aiming for an Ebitda higher than that recorded in Q3.
The former ArcelorMittal subsidiary also says it intends to reduce its net debt by the end of the year, and to start preparing for the integration of American Universal Stainless, its recent acquisition designed to strengthen its position in the US and in the aerospace market.
Following these results, judged as "solid", and the outlook described as "encouraging" by Oddo BHF analysts, Aperam shares are up almost 6% on Friday morning in Paris.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The specialty steel producer posted a net profit of E179m in Q3, compared with a loss of E42m a year earlier.
Its Ebitda reached E107m, compared with E19m in Q3 2023, for an Ebitda/tonne up to E173 from just E37 a year ago, despite the traditional unfavourable effect linked to the summer season.
The group reports that it delivered 617,000 tonnes in the quarter, compared with 516,000 a year earlier, on the basis of a higher average selling price of E2,279 per tonne for the stainless steel and electrical steels segment, its main division, compared with E2,412 a year earlier.
For Q4, Aperam says it is aiming for an Ebitda higher than that recorded in Q3.
The former ArcelorMittal subsidiary also says it intends to reduce its net debt by the end of the year, and to start preparing for the integration of American Universal Stainless, its recent acquisition designed to strengthen its position in the US and in the aerospace market.
Following these results, judged as "solid", and the outlook described as "encouraging" by Oddo BHF analysts, Aperam shares are up almost 6% on Friday morning in Paris.
Copyright (c) 2024 CercleFinance.com. All rights reserved.