Aperam Published its Third Quarter 2023 Results

For more details, read our Press Release: click here and download our Analyst Slides & Aperam Model: click here.

Timoteo Di Maulo, CEO of Aperam, commented: 
“Q3 results are a clear indicator of the environment we operate in. Europe remains in the grip of an extremely challenging market environment characterized by both historically low prices and volumes. Additional company-specific effects resulted from the footprint upgrade. Production disruptions and an unusually high inventory valuation charge caused Aperam’s lowest ever quarterly EBITDA. We realized the Leadership JourneyR Phase 4 targets early and, to restore the resilience and flexibility in our business model, we add a structural cost reduction plan of EUR 50 million to Phase 5 in addition to the normal EUR 50 million annual run rate. We thereby lay the basis for a better 2024 irrespective of what shape the recovery might take.“