PARIS (Agefi-Dow Jones)–Steel producer Aperam announced on Friday that it expects its adjusted gross operating profit (EBITDA) to rise slightly in the first quarter of 2022 compared to that achieved in the last three months of 2021, which exceeded expectations.
“Our well-filled order book bodes well for a good first half,” Aperam chief executive Timoteo Di Maulo said in a statement.
In the fourth quarter, the stainless steel specialist’s adjusted gross operating profit (Ebitda) reached 345 million euros, compared to 109 million euros a year earlier and 278 million euros in the third quarter of 2021 .
The group expected an adjusted Ebitda “slightly higher” than that recorded in the third quarter.
According to the consensus established by FactSet, analysts expected an adjusted Ebitda of 301.9 million euros for the fourth quarter of 2021.
For the full year 2021, net income group share amounted to 968 million euros, compared to 175 million euros in 2020. Adjusted EBITDA reached 1.06 billion euros, compared to 293 million euros a year earlier. The industrial group’s turnover stood at 5.1 billion euros in 2021, compared to 3.62 billion euros in 2020.
According to the consensus established by FactSet, analysts expected for 2021 a net result of 689 million euros, an adjusted Ebitda of 971.5 million euros and a turnover of 5.18 billion euros. euros.
In 2021, the steelmaker with operations in Brazil, France and Belgium saw its steel shipments reach 1.82 million tons, compared to 1.68 million tons in 2020. In the fourth quarter alone, shipments slightly fell to 424,000 tonnes after 431,000 tonnes in the fourth quarter of 2020 and 421,000 tonnes in the third quarter of 2021.
At the end of December, the group’s net financial debt stood at 466 million euros, increased by the acquisition of the group specializing in the recycling of steel scrap ELG, compared to a net debt of 67 million euros at the end of 2020.
The steelmaker will submit for the approval of its annual general meeting the payment of a basic dividend of 2 euros per share for the 2021 financial year, i.e. an increase compared to the dividend of 1.75 euros proposed for the previous year.
Aperam also announced the launch of a share buyback program of up to €100 million over a period from February 14, 2022 to December 31, 2022.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: LBO
APERAM FINANCIAL RELEASES:
https://www.aperam.com/documentation/?doc_cat=8483
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February 11, 2022 02:01 ET (07:01 GMT)