Aperam ( (APEMY) ) has released its Q3 earnings. Here is a breakdown of the information Aperam presented to its investors.
Aperam S.A. is a leading global player in the stainless, electrical, and specialty steel industries, with a strong presence in recycling, and boasts a unique low-carbon production capability. The company operates across several segments, including Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling & Renewables.
In its third-quarter 2024 earnings report, Aperam reported significant improvements in key financial metrics, despite a challenging market environment. The company highlighted the positive impact of its upgraded facilities and strategic initiatives, which have contributed to improved profitability.
Key financial performance indicators for the third quarter included an increase in shipments by 5.5% to 617 thousand tonnes and a rise in Adjusted EBITDA to EUR 99 million. The net income saw a substantial jump to EUR 179 million, up from EUR 59 million in the previous quarter, with basic earnings per share increasing to EUR 2.47. However, free cash flow before dividends dropped significantly to EUR 9 million from EUR 111 million in the previous quarter.
Strategically, Aperam’s Leadership Journey® Phase 5 is underway, targeting EUR 200 million in gains by 2026. Additionally, the company announced the acquisition of Universal Stainless & Alloy Products, Inc., a strategic move to expand its market in the U.S. and the aerospace sector, expected to close in the first half of 2025.
Looking ahead, Aperam’s management expects a stronger EBITDA in the fourth quarter of 2024 and plans to focus on reducing net financial debt. The company remains committed to leveraging its enhanced operational footprint and strategic acquisitions to strengthen its market position and financial performance.
