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Eramet: FY net income, group share reaches 203 million euros

(CercleFinance.com) - Eramet reported sales that were up 22% relative to 2016 at 3,652 million euros (+30% at a constant consolidation scope and exchange rates).

Underlying operating income rose sharply to 608 million euros. This was mainly driven by the very favourable trend in manganese prices, but also by productivity gains of 99 million euros (meaning a total of 405 million euros made over 2014-2017, in line with the group's enhanced target), management said.

Net income, group share, was positive at 203 million euros, compared to a loss of 179 million euros in 2016.

Net debt amounted to 376 million euros at 31 December 2017, a lot below 836 million euros at end-2016. Free cash flow, which has been positive over the past eighteen months, amounted to 476 million euros in 2017.

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