Aperam publishes its full year and Q4 2024 results

Full year and fourth quarter 2024 results“Alloys & Specialties and Recycling & Renewables exemplify the value inherent in Aperam’s differentiated value chain” Luxembourg, February 7, 2025 (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 and full year ended December 31, 2024.

Highlights

• Health and Safety: LTI frequency rate of 1.8x in 2024 compared to 2.3x in 2023
• Shipments of 2,290 thousand tonnes in 2024, a 4.2% increase compared to shipments of 2,198 thousand tonnes in 2023
• Adjusted EBITDA of EUR 356 million in 2024, compared to Adjusted EBITDA of EUR 304 million in 2023
• Adjusted EBITDA of EUR 116 million in Q4 2024, compared to EUR 99 million in Q3 2024 and EUR 55 million in Q4 2023
• Net income of EUR 231 million in 2024, compared to net income of EUR 203 million in 2023
• Basic earnings per share of EUR 3.20 in 2024, compared to EUR 2.81 in 2023
• Free cash flow before dividends amounted to EUR 125 million in 2024, compared to EUR 168 million in 2023
• Net financial debt of EUR 544 million as of December 31, 2024, compared to EUR 491 million as of December 31, 2023

Strategic initiatives

Leadership Journey® Phase 5: Gains reached EUR 49 million in Q4 2024 and a cumulative EUR 95 million versus target gains of EUR 200 million over the period 2024 to 2026.

Prospects

• Q1 2025 EBITDA is expected at a lower level versus Q4 2024
• We guide for significantly higher Q1 2025 net financial debt due to the consolidation of Universal Stainless & Alloy Products Inc.

Timoteo Di Maulo, CEO of Aperam, commented: “I am delighted that amid a challenging market environment with intensifying pricing pressure we stayed true to our word, and delivered a sequentially higher EBITDA thanks to the Alloys segment with a record annual and quarterly result and a solid performance from Recycling & Renewables. We also achieved the promised de-leveraging step which readied the balance sheet for the consolidation of Universal Stainless & Alloy Products from 23 January 2025. The fast execution of the transaction further differentiates Aperam’s value chain into the USA and into aerospace. In combination with our Alloys segment it opens significant new growth opportunities that we will use to further transform our business model.“

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