Eramet: net loss deepens in 2020
(CercleFinance.com) - Eramet has reported a net loss of 675 million euros for 2020, against a reduced loss of 184 million euros in 2019, with underlying operating income that is down 69% at 106 million euros, and EBITDA that is also down, falling 37% to 398 million euros.
The metals group's revenues fell by 3% to 3.55 billion euros (-2% LFL), penalised by the sharp drop in manganese ore prices (-19%), as well as the decline in aeronautics sales at Aubert & Duval.
Measures to preserve cash flow, such as a strict control of capex and working capital, will be continued in 2021. In addition, No dividend will be proposed at the general meeting of 28 May.
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The metals group's revenues fell by 3% to 3.55 billion euros (-2% LFL), penalised by the sharp drop in manganese ore prices (-19%), as well as the decline in aeronautics sales at Aubert & Duval.
Measures to preserve cash flow, such as a strict control of capex and working capital, will be continued in 2021. In addition, No dividend will be proposed at the general meeting of 28 May.
Copyright (c) 2021 CercleFinance.com. All rights reserved.