Aperam publishes its Q2 results

Aperam publishes its Q2 results

Second quarter 2021 results (1)Another set of record earnings and a positive outlook for the second halfLuxembourg, July 30, 2021 (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 June 30, 2021. Highlights
  • Health and Safety: LTI frequency rate of 2.3x in Q2 2021 compared to 2.6x in Q1 2021
  • Steel shipments of 481 thousand tonnes in Q2 2021, 2% decrease compared to steel shipments of 493 thousand tonnes in Q1 2021
  • Adj EBITDA of EUR 262 million in Q2 2021, compared to EUR 175 million in Q1 2021
  • Net income of EUR 213 million in Q2 2021, compared to EUR 116 million in Q1 2021
  • Basic earnings per share of EUR 2.67 in Q2 2021, compared to EUR 1.45 in Q1 2021
  • Cash flow from operations amounted to EUR 115 million in Q2 2021, compared to EUR 106 million in Q1 2021
  • Free cash flow before dividend and share buy-back of EUR 87 million in Q2 2021, compared to EUR 58 million in Q1 2021
  • Net financial debt of EUR 1 million as of June 30, 2021, compared to EUR 56 million as of March 31, 2021
Strategic initiatives
  • Leadership Journey® (2) Phase 4: Gains reached EUR 15 million in Q2 2021. Aperam realized cumulative gains of EUR 22 million in the first 6 months of the program. This compares to cumulative target gains of EUR 150 million over the period 2021 to 2023
  • Preparing for the next phase of growth and specialization: Investment in Brazil Hot Rolling Mill to drive growth in high value stainless products
Prospects
  • Adj EBITDA in Q3 2021 is expected at a comparable level versus Q2 2021
  • We guide for comparable free cash flow in Q3 2021 despite higher working capital
  • Shareholder returns: share buyback program of up to EUR 100 million
Timoteo Di Maulo, CEO of Aperam, commented: “I am delighted to report again a record result in the second quarter for which Brazil and S&S were major drivers by achieving the best quarter ever. Europe also improved significantly as the price environment has now fully normalized on the back of the economic recovery and more effective protection against dumping. While restocking driven demand, stretched global supply chains and positive effects from higher raw material prices will eventually fade, we expect the positive environment to persist during the second half of the year. This coupled with the continued improvement and higher flexibility achieved through our Leadership Journey® puts us in a position to project the best second half in Aperam’s history.”     Read our Press Releases:
(1 )The financial information in this press release and Appendix 1 has been prepared in accordance with the measurement and recognition criteria of International Financial Reporting Standards (“IFRS”) as adopted in the European Union. While the interim financial information included in this announcement has been prepared in accordance with IFRS applicable to interim periods, this announcement does not contain sufficient information to constitute an interim financial report as defined in International Accounting Standard 34, “Interim Financial Reporting”. Unless otherwise noted the numbers and information in the press release have not been audited. The financial information and certain other information presented in a number of tables in this press release have been rounded to the nearest whole number or the nearest decimal. Therefore, the sum of the numbers in a column may not conform exactly to the total figure given for that column. In addition, certain percentages presented in the tables in this press release reflect calculations based upon the underlying information prior to rounding and, accordingly, may not conform exactly to the percentages that would be derived if the relevant calculations were based upon the rounded numbers. (2) The Leadership Journey® is an initiative launched on December 16, 2010, and subsequently accelerated and increased, to target management gains and profit enhancement. The fourth phase of the Leadership Journey® is targeting EUR 150 million gains for the period 2021 – 2023 via a combination of cost, growth and mix improvement measures.
Scroll to top