Financial PerformanceEramet should post a 35% increase in Q3 sales, see its EBITDA multiply by 4x in H2, and could double its profits again over 2025.
Market ConditionsManganese ore prices have doubled following the shutdown of the world's second largest mine in Australia.
ValuationEramet remains particularly discounted, trading at less than 2x its adjusted EBITDA 2025e and less than 3x its underlying EBITDA multiple.