PARIS (Agefi-Dow Jones)–The mining group Eramet on Thursday raised its gross operating surplus (EBITDA) target for 2022, due in particular to the high prices of its metals, and confirmed its forecasts for production and export, after a strong increase in its turnover in the first quarter.
Eramet now forecasts Ebitda above 1.5 billion euros for 2022, against a previous forecast of around 1.2 billion euros. This revision is explained in particular by an increase in the prices of the group’s metals compared to 2021, which should only be partially offset by the sharp increase in the cost of inputs, Eramet said in a press release.
The increase in the EBITDA target is also due to the confirmation of the group’s production and export targets. Eramet still anticipates an increase in its manganese ore production in Gabon to 7.5 million tonnes, nickel ore production of around 15 million wet tonnes (Mth) in Indonesia and more than 4 Mth in nickel ore exports to New Caledonia.
“The strong uncertainties linked to the geopolitical and health context could however weigh on demand, especially in the second half,” warned Eramet.
The group presented these objectives while its turnover jumped 79% in the first quarter. Over the period from January to March, Eramet achieved a turnover of 1.17 billion euros, after 650 million euros in the first quarter of 2021. The amount for 2021 has been restated in order to reflect the evolution of the scope of the group, which now excludes the activities sold Aubert & Duval, Sandouville and Erasteel.
-Alice Doré, Agefi-Dow Jones; +33 (0)1 41 27 47 90; [email protected] ed: VLV
ERAMET FINANCIAL RELEASES:
https://www.eramet.com/en/investors/publications-and-press-releases
Agefi-Dow Jones The financial newswire
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April 28, 2022 01:50 ET (05:50 GMT)