Eramet: reduces FY EBITDA forecast
(CercleFinance.com) - Mining and metallurgy group Eramet has reduced its FY 2023 adjusted EBITDA forecast to around E800m (from E900m previously), including the proportional contribution from Weda Bay.
The company says that this revision reflects a lower estimated average manganese ore price and a revised lower nickel ore volume target at Weda Bay, which has not received authorisation yet.
Eramet reported adjusted sales of E980m for Q3 2023, down 26% y-o-y, reflecting the sharp drop in sales prices (-27%), even though this was partly offset by growth in mining volumes (+7%).
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The company says that this revision reflects a lower estimated average manganese ore price and a revised lower nickel ore volume target at Weda Bay, which has not received authorisation yet.
Eramet reported adjusted sales of E980m for Q3 2023, down 26% y-o-y, reflecting the sharp drop in sales prices (-27%), even though this was partly offset by growth in mining volumes (+7%).
Copyright (c) 2023 CercleFinance.com. All rights reserved.