Aperam S.A. / Mot-clé(s) : Autres
Aperam update on Q1 2025 market & financial trends
03-Avr-2025 / 06:59 CET/CEST
Aperam update on Q1
2025 market & financial trends
Luxembourg, April 3,
2025 (07:00 CEST) - In preparation of
the upcoming quarterly results release scheduled for Wednesday, 30
April 2025, we would like to remind market participants of the
standing guidance, earnings drivers and events that should be
considered.
The Q1 2025 outlook, as specified in the Q4 2024
presentation, the management podcast and during the conference call
was:
-
Q1 2025 group adjusted EBITDA lower
than Q4 2024 (EUR116m) despite seasonally higher shipments in
Europe and the first time consolidation of Universal. These
positive effects will be more than offset by pricing pressure in
Europe, a clearly negative valuation effect and the seasonal trough
in Brazil.
-
The Aperam compiled Q1 2025
adjusted EBITDA consensus stands at EUR87m (average) currently. The
consensus is updated & published at:
https://www.aperam.com/investors/news-contacts/results
-
Higher net financial debt versus
the EUR544m reported at year end 2024 due to the acquisition of
Universal Stainless & Alloy Products for USD537m (€518m) and
seasonally higher net working capital. Capex was guided at EUR200m
for 2025 with a higher share being spent in Q1. As a consequence of
higher NWC and a high capex spend we project a negative free cash
flow for first quarter 2025.
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Additional items
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Volume seasonality
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Europe: Normal seasonality with higher Q1 volumes compared to
Q4, which was partly due to restocking. Demand remains at a
depressed level overall. In Brazil Q1 forms the seasonal trough
with lower shipments qoq.
|
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Current trading &
outlook
|
In Europe pricing pressure remained high in Q1 and realized
pricing declined versus Q4. Recent political initiatives improved
the sentiment, but actual trading remains unchanged so
far.
In Brazil demand remains solid as we harvest positive effects
from the hot rolling mill upgrade. Q2 is a seasonally stronger
quarter.
|
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Commodity prices & valuation
effect
|
For the group we guided for a meaningful negative valuation
effect of EUR15 - 20m versus Q4.
|
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Universal Stainless
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Full consolidation started with closing on 23 January 2025 -
reported within the Alloys & Specialties segment. Q1
performance reflects the clogged aerospace supply chain in the
USA.
|
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Leadership Journey Phase
5
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On track to realise the target gains of EUR75m in
2025.
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Please note that forward guidance for adjusted EBITDA, cash
flow and net debt is always provided on a stable commodity price
assumption.
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Commodity prices
& FX
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|
|
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DEC 24
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JAN 25
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FEB 25
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MAR 25
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Nickel LME
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USD/t
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15,434
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15,883
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15,284
|
16,025
|
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Ferrochrome
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USD/t
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2,466
|
2,491
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2,524
|
2,568
|
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EU Stainless Scrap
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USD/t
|
1,314
|
1,318
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1,294
|
1,356
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EU Stainless CR 2mm 304
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USD/t
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2,675
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2,652
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2,676
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2,747
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USD/EUR
|
x
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1.05
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1.07
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1.04
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1.08
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USD/BRL
Source: Bloomberg, CRU
|
x
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6,10
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5.78
|
5.77
|
5.77
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The Q1 2025 Financial performance will be published
post market close
on Wednesday, 30 April
2025.
Aperam management will host a conference call for members of the
investment community to discuss the
Q1 2025 financial performance on 30 April 2025 at
18:30 CEST
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The Capital Markets Day initially planned for June has to be
postponed for scheduling reasons. We will inform you as soon as a
new date has been set.
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Forward Looking
Statements
This document may contain forward-looking information and
statements about Aperam SA and its subsidiaries. These statements
include financial projections and estimates and their underlying
assumptions, statements regarding plans, objectives and
expectations with respect to future operations, products and
services, and statements regarding future performance.
Forward-looking statements may be identified by the words
‘’believe’’, ‘’expect’’, ‘’anticipate’’, ‘’target’’ or similar
expressions. Although Aperam’s management believes that the
expectations reflected in such forward-looking statements are
reasonable, investors and holders of Aperam’s securities are
cautioned that forward-looking information and statements are
subject to numerous risks and uncertainties, many of which are
difficult to predict and generally beyond the control of Aperam,
that could cause actual results and developments to differ
materially and adversely from those expressed in, or implied or
projected by, the forward-looking information and statements. These
risks and uncertainties include those discussed or identified in
Aperam’s filings with the Luxembourg Stock Market Authority for the
Financial Markets (Commission de Surveillance du Secteur
Financier). The information is valid only at the time of release
and Aperam does not assume any obligation to update or revise its
forward-looking statements on the basis of new information, future
events, subject to applicable regulation.
Contact
Investor Relations / Thorsten Zimmermann:
IR@aperam.com
Communication / Ana Escobedo
Conover: Ana.Escobedo@aperam.com
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