Luxembourg, November 10, 2023 (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 September 30, 2023.
Highlights
? Health and Safety: LTI frequency rate of 1.4x in Q3 2023 compared to 2.8x in Q2 2023
? Shipments of 516 thousand tonnes in Q3 2023, a 6% decrease compared to shipments of 550 thousand tonnes in Q2
2023
? EBITDA of EUR 19 million in Q3 2023, compared to EBITDA of EUR 103 million in Q2 2023
? Net loss of EUR (42) million in Q3 2023, compared to net income of EUR 43 million in Q2 2023
? Basic earnings per share of EUR (0.59) in Q3 2023, compared to EUR 0.60 in Q2 2023
? Free cash flow before dividend and share buy-back was negative at EUR (135) million in Q3 2023, compared to EUR
1 million in Q2 2023
? Net financial debt of EUR 646 million as of September 30, 2023, compared to EUR 461 million as of June 30, 2023
Strategic initiatives
? Leadership Journey®
2 Phase 4: Gains reached EUR 28 million in Q3 2023 and a cumulative EUR 178 million
versus target gains of EUR 150 million over the period 2021 to 2023.
Prospects
1
? Q4 2023 EBITDA is expected to increase versus Q3 2023
? We guide for lower Q4 2023 net financial debt
Timoteo Di Maulo, CEO of Aperam, commented:
“Q3 results are a clear indicator of the environment we operate in. Europe remains in the grip of an extremely challenging
market environment characterized by both historically low prices and volumes. Additional company-specific effects resulted
from the footprint upgrade. Production disruptions and an unusually high inventory valuation charge caused Aperam’s lowest
ever quarterly EBITDA. We realized the Leadership Journey? Phase 4 targets early and, to restore the resilience and flexibility
in our business model, we add a structural cost reduction plan of EUR 50 million to Phase 5 in addition to the normal EUR 50
million annual run rate. We thereby lay the basis for a better 2024 irrespective of what shape the recovery might take.” see & read more on
https://www.aperam.com/sites/default/files/documents/Q3_2023_ER_PressRelease_EN.pdf