“Another Record Quarter Despite Market Turmoil”
Luxembourg, May 6, 2022 (07:00 CET) - Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris,
Brussels: APAM, NYRS: APEMY), announced today results for the three months ended March 31, 2022.
Highlights
? Health and Safety: LTI frequency rate of 2.4x in Q1 2022 compared to 2.1x in Q4 2021
? Shipments of 673 thousand tonnes, including the addition of Recycling & Renewables in Q1 2022. Comparable
shipments of 452 thousand tonnes in Q1 2022 versus 424 thousand tonnes in Q4 2021
? Adjusted EBITDA of EUR 363 million in Q1 2022, compared to Adjusted EBITDA of EUR 345 million in Q4 2021
? Adjusted Net income of EUR 219 million in Q1 2022, compared to EUR 244 million in Q4 2021
? Adjusted Basic earnings per share of EUR 2.83 in Q1 2022, compared to EUR 3.10 in Q4 2021
? Cash flow used by operations amounted to EUR (57) million in Q1 2022, compared to cash flow from operations of
EUR 219 million in Q4 2021
? Free cash flow before dividend and share buy-back of EUR (103) million in Q1 2022, compared to EUR 132 million in
Q4 2021
? Net financial debt of EUR 666 million, as of March 31, 2022, compared to EUR 466 million as of December 31, 2021
Strategic initiatives
? Leadership Journey®
2 Phase 4: Gains reached EUR 7 million in Q1 2022 and a cumulative EUR 47 million
compared to target gains of EUR 150 million over the period 2021 to 2023. Additional gain of EUR 7 million from
Brazil electrical steel investment by accelerating the Leadership Journey® Phase 5 within the 2025 growth plan.
Cash deployment
In coherence to its Financial Policy, Aperam is announcing:
? 2022 Share Buyback increased by up to another EUR 100 million for a total of up to EUR 200 million. EUR 100
million completed on April 19, 2022.
Prospects
? Q2 2022 Adj. EBITDA is expected at a higher level versus the record Q1 2022 base
? We guide for slightly lower Q2 2022 net financial debt
Timoteo Di Maulo, CEO of Aperam, commented:
“Q1 was the fifth adjusted EBITDA record in a row and we are aiming for another record in Q2 to make good on our promise of
a strong first half. Strong balance sheets will be a cornerstone in the current environment and Aperam is pleased to increase
the 2022 share buyback by another EUR 100 million. I am proud that our 2021 ESG report confirms Aperam’s best in class
CO2
footprint, which includes an added sustainability value dimension of our FSC certified forest. Aperam is further significantly
investing into growing this unique strategic asset.”
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Financial Highlights (on the basis of financial information prepared under IFRS)

see & read more on
https://www.aperam.com/sites/default/files/documents/Q1_2022_ER_Press%20Release_EN.pdf