Aperam publishes its results for the first quarter of 2024

Luxembourg, May 3, 2024 - Aperam, a major player in international steel markets, presented its financial results for the quarter ended March 31, 2024, highlighting a period of resilience despite unfavorable economic conditions.

The company recorded revenue of 1,657 million euros in the first quarter, up from 1,551 million euros in the previous quarter. Tonnage shipments also increased, reaching 585 thousand tonnes compared to 541 thousand tonnes in the fourth quarter of 2023. However, adjusted EBITDA remained at 55 million euros, stable compared to the previous quarter. Despite these stable figures, the company recorded a net loss of 19 million euros compared to a profit of 70 million euros in the previous quarter.

Significant investments under the Leadership Journey® Phase 5 program are already showing results, particularly in terms of cost reductions and operational efficiencies, although the company recorded an increase in net financial debt from €491 million. euros to 674 million euros in three months.

This quarter demonstrates Aperam's adaptation strategy in the face of a European economic environment comparable to that of 2020. Managing Director, Timoteo Di Maulo, expressed optimism about the company's ability to return to profitability thanks to diversification and increased efficiency.