Aperam publishes its Q3 2024 results

Third quarter 2024 results “Footprint upgrade starts to make a positive impact” Luxembourg, November 8, 2024 (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, 2024.

Highlights

• Health and Safety: LTI frequency rate of 2.4x in Q3 2024 compared to 2.0x in Q2 2024
• Shipments of 617 thousand tonnes in Q3 2024 increased by 5.5% versus shipments of 583 thousand tonnes in Q2 2024
• Adjusted EBITDA of EUR 99 million in Q3 2024, compared to Adjusted EBITDA of EUR 86 million in Q2 2024
• Net income of EUR 179 million in Q3 2024, compared to net income of EUR 59 million in Q2 2024
• Basic earnings per share of EUR 2.47 in Q3 2024, compared to EUR 0.82 in Q2 2024
• Free cash flow before dividends amounted to EUR 9 million in Q3 2024, compared to EUR 111 million in Q2 2024
• Net financial debt of EUR 641 million as of September 30, 2024, compared to EUR 607 million as of June 30, 2024

Strategic initiatives

Leadership Journey® Phase 5: Gains reached EUR 27 million in Q3 2024, the third quarter of the 2024 – 2026 program with target gains of EUR 200 million.

Prospects

• Q4 2024 EBITDA is expected at a higher level versus Q3 2024
• Net financial debt to decrease till year end 2024

Timoteo Di Maulo, CEO of Aperam, commented: “The summer quarter with its seasonal trough in Europe has benefitted from Brazil returning to smooth operations post the hot rolling mill upgrade. Despite a soft market environment, we have reached a historic normal profitability per ton as we leverage the capabilities of our modernized footprint resulting in a better product mix. Phase 5 of the Leadership Journey® is picking up speed, which will strengthen our cost leadership position in Europe. Our focus is now on reducing net financial debt towards the end of the year as we prepare for consolidating Universal Stainless, which will open the US and the aerospace market for us.” 

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