Eramet: Q3 sales down 3%
(CercleFinance.com) - Eramet announces Q3 2019 sales of 895 million euros, down 6%, having been hit by the unfavourable price environment in manganese operations and the impact of compliance with quality processes at Aubert & Duval.
Christel Bories, Eramet Chairman and CEO, said, "Despite the slowdown in the global economy, 3rd quarter 2019 was marked by highly favourable momentum in our Nickel activities. SLN generated positive cash flow in September, thanks to good progress in our rescue plan and to the rise in nickel prices," while noting that SLN had a cash surplus in September.
Eramet estimates that, assuming September market conditions, H2 EBITDA should be significantly higher than in H1, although FY EBITDA will be lower than in 2018.
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Christel Bories, Eramet Chairman and CEO, said, "Despite the slowdown in the global economy, 3rd quarter 2019 was marked by highly favourable momentum in our Nickel activities. SLN generated positive cash flow in September, thanks to good progress in our rescue plan and to the rise in nickel prices," while noting that SLN had a cash surplus in September.
Eramet estimates that, assuming September market conditions, H2 EBITDA should be significantly higher than in H1, although FY EBITDA will be lower than in 2018.
Copyright (c) 2019 CercleFinance.com. All rights reserved.