“Non-traditional activities prove resilient in the industrial recession”
Luxembourg, May 3, 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 March 31, 2024.
Highlights
? Health and Safety: LTI frequency rate of 1.5x in Q1 2024 compared to 2.1x in Q4 2023
? Shipments of 585 thousand tonnes in Q1 2024, 8% increase compared to shipments of 541 thousand tonnes in Q4
2023
? Adjusted EBITDA of EUR 55 million in Q1 2024, similar to Adjusted EBITDA of EUR 55 million in Q4 2023
? Net loss of EUR (19) million in Q1 2024, compared to net income of EUR 70 million in Q4 2023
? Basic earnings per share of EUR (0.26) in Q1 2024, compared to EUR 0.97 in Q4 2023
? Free cash flow before dividend and share buy-back amounted to EUR (141) million in Q1 2024, compared to EUR
217 million in Q4 2023
? Net financial debt of EUR 674 million as of March 31, 2024, compared to EUR 491 million as of December 31, 2023
Strategic initiatives
? Leadership Journey®
2 Phase 5: Gains reached EUR 3 million in Q1 2024 the first quarter of the 2024 - 2026
starting the first quarter in a program with target gains of EUR 200 million.
Prospects
1a
? Q2 2024 EBITDA is expected at a higher level versus Q1 2024
? We guide for lower Q2 2024 net financial debt
Timoteo Di Maulo, CEO of Aperam, commented:
“The European manufacturing environment resembles 2020 but with a much longer duration. Q1 marked the 7th consecutive
recessionary quarter in the stainless steel industry. We are glad to have differentiated our value chain early. Recycling, forestry,
alloys and distribution support the group through the low stainless cycle. Our Leadership Journey 5 focus of mix improvement
and cost reduction focus will restore Aperam’s profitability and cash generating ability. Success is already visible in our ESG
performance. At less than 280 kg CO2e per tonne of steel Aperam surpassed already in 2023 its ambitious target for 2030 and
is a best in class producer globally.”
1a The outlook for the quarter depends on the future development of metal and product prices. Both are assumed as constant at their current level.
1
Financial Highlights (on the basis of financial information prepared under IFRS)

see & read more on
https://www.aperam.com/sites/default/files/documents/Q1_2024_ER_PressRelease_EN.pdf