Aperam: share price up after business update

(CercleFinance.com) - Aperam announced on Monday that it was targeting a third-quarter adjusted Ebitda 'slightly higher' than the 86 million euros it had achieved in the second quarter.


In a press release, the producer of stainless and specialty steels explains that the weak seasonality characterizing the quarter just ended was more than offset by an improvement in the reconditioning of its hot-rolling mill in Brazil.

By way of comparison, the market consensus is currently targeting sales of €93 million.

And while the prices of certain raw materials have fallen back in recent months, the Group says it does not expect this dynamic to penalize its earnings guidance for the third quarter.

Indeed, Aperam notes that the positive trend that sustained volumes before the summer has continued over the summer period, which should lead it to a second-half adjusted Ebitda higher than that of the first half, a phenomenon contrary to the usual seasonality of its business.

It remains to be seen whether the recent deterioration in the manufacturing PMI indices will have an impact on the fourth quarter," the company cautions.

Aperam is due to publish its third-quarter results on Friday October 8.

Following these announcements, the share, listed on Euronext Amsterdam, Brussels and Paris, gained over 3% on Monday morning.

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