Paris, 25 October 2021, 7:30 a.m.
PRESS RELEASE
Eramet: Strong growth in Q3 2021 turnover, forecast EBITDA revised upwards close to 1bn over the year
- Turnover of 1.1bn (+34% vs. Q3 2020), with growth of more than 40% in the Mining and Metals division
- Good operating performance in the Mining and Metals division in all entities except New Caledonia:
- Increase in manganese alloys volumes produced (+11%) with a favourable mix and continued organic growth in manganese ore production in Gabon (+27%)
- Excellent growth dynamics in Weda Bay nickel ore production with nearly 4 Mwmt over the quarter, representing nearly 11 Mwmt year-on-year at end-September
- Increase in mineral sands production in Senegal (+11%)
- Decrease in ferronickel production in New Caledonia (-19%), notably resulting from the deterioration in the health situation in the territory since early September; cash cost1 at $7/lb in Q3 2021, despite the increase in exported nickel ore volumes (+49%)
- Very favourable price environment in Q3 2021, particularly for manganese alloys; however, the cost of freight largely absorbed the ore price increases. The impact of the increase in energy costs on the Group’s activities remains limited to date
- Decline in Aubert & Duval (“A&D”) turnover (-14%) in an aerospace market environment which is still depressed and factoring in the impact of the fire that occurred in a workshop of the Pamiers plant in early September; increase in Erasteel sales (+40%)
- 2021 Outlook...
Read Full Story: https://www.globenewswire.com/news-release/2021/10/25/2319495/0/en/Eramet-Strong-growth-in-Q3-2021-turnover-forecast-EBITDA-revised-upwards-close-to-1bn-over-the-year.html
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