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Aperam: posts net loss of 19 ME in 1st quarter

( - Aperam reports sales of 1,657 ME for Q1 2024, down 11% on the same period a year earlier.

The steel specialist posted an operating loss of 3 ME for the first three months of the year, a far cry from the operating profit of 81 ME recorded a year earlier.

Adjusted EBITDA fell by 57% to 55 ME.

Aperam recorded a net loss (group share) of 19 ME, compared with a profit of +132 ME in Q1 2023, i.e. basic earnings per share fell from 1.83 euro to -0.26 euro in the space of twelve months.

Timoteo Di Maulo, CEO Aperam, recalls that this first quarter was 'the seventh consecutive quarter of recession in the stainless steel industry'. He highlights the company's ESG performance, which, with less than 280 kg of CO2e per tonne of steel, 'has already exceeded in 2023 its ambitious target for 2030'.

On the outlook side, Aperam anticipates an increase in EBITDA between Q1 and Q2 and expects 'lower net financial debt for Q2'.

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