Eramet SA
PAR:ERA

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Eramet SA Logo
Eramet SA
PAR:ERA
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Price: 51.15 EUR 1.29% Market Closed
Market Cap: 1.5B EUR

Eramet SA
Investor Relations

Eramet SA, a French multinational mining and metallurgy company, navigates the complex landscape of extracting and refining metals to supply industries around the globe. Based in Paris, Eramet's story unfolds from the depths of mines to the smelting facilities that transform raw ores into essential materials. The company’s operations are primarily anchored in its three business segments: manganese, nickel, and mineral sands, each contributing significantly to its revenue stream. In the manganese segment, Eramet commands a pivotal position as one of the largest producers globally, channeling its output mainly into steel production, an essential backbone for infrastructure and construction. Complementing its manganese endeavors, Eramet's nickel operations in New Caledonia and Indonesia focus on extracting nickel ore and processing it to serve both the stainless steel and burgeoning electric vehicle battery markets.

Meanwhile, the company’s mineral sands segment thrives on its production of titanium dioxide and zircon, materials integral to industries like paint, ceramics, and electronics. These operations are supported by a robust R&D commitment and a focus on sustainable mining practices, which has become an increasingly critical shareholder demand and regulatory aspiration. Eramet's strategy submerges beyond extraction alone, as the firm actively pursues value-added processing techniques that bolster its competitive edge while reducing environmental impact. By remaining diligent in efficiency improvements and supply chain resilience, Eramet continually positions itself as a key player within the dynamic realms of the global metal market, steadily transforming base elements into substances vital to modern life’s infrastructure and technology needs.

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Last Earnings Call
Fiscal Period
Q2 2023
Call Date
Jul 27, 2023
AI Summary
Q2 2023

H1 Earnings Drop: Eramet reported a significant decline in adjusted EBITDA to €339 million, mainly due to sharp commodity price falls and logistical disruptions in Gabon.

Cost & Cash Response: The company launched cost reduction and cash control measures, delivering €21 million in H1 savings and targeting at least €60 million in H2.

Lithium Project Progress: Construction on the flagship Argentina lithium project is 60% complete, on track for Q2 2024 production start, with strong economics and major offtake deal signed with Glencore.

Guidance Revised Down: Full-year adjusted EBITDA guidance cut to around €900 million and CapEx guidance reduced to €550 million.

Manganese Volumes Recovering: Manganese ore production was hit by incidents in H1 but is back to normal; over 7 million tons are targeted for 2023.

Nickel Performance Mixed: Weda Bay nickel mine guidance raised to 35 million tons on strong performance; SLN nickel remains challenged by high costs and structural issues.

Strong Liquidity Maintained: Liquidity remains solid at €2.5 billion, with additional $400 million from a Glencore prepayment forthcoming.

Key Financials
Adjusted EBITDA
€339 million
Free Cash Flow
-€120 million
Net Debt
€712 million
Adjusted Leverage
0.7
Net Income (Group Share)
€98 million
Liquidity
€2.5 billion
CapEx
€356 million (gross) in H1
Manganese Ore Production (H1)
2.6 million tons
Weda Bay Nickel Ore Sales
guidance raised to 35 million tons for 2023
Lithium Project CapEx (Phase 1)
$735 million
Lithium Project Completion Rate
60% at end of June
Projected Annual EBITDA (Lithium Project)
around $300 million
Earnings Call Recording
Other Earnings Calls
2023

Management

Ms. Christel Bories
Chairman, CEO & President
No Bio Available
Mr. Nicolas Carre
Chief Financial Officer
No Bio Available
Ms. Sandrine Nourry-Dabi
Director of Investor Relations
No Bio Available
Mr. Guillaume Vercaemer
Group General Counsel
No Bio Available
Pauline Briand
Communication Director
No Bio Available
Ms. Anne-Marie le Maignan
Executive Vice President of Human Resources, Health & Security
No Bio Available
Mr. Marcel Abéké
CEO of Comilog Gabon and Deputy Delegate CEO of the Manganese Division
No Bio Available
Ms. Virginie De Chassey
Chief Sustainability & External Affairs Officer
No Bio Available
Hervé Montégu
Senior Vice President of Lithium Activities
No Bio Available
Mr. Geoff Streeton
Chief Development Officer
No Bio Available

Contacts

Address
ILE-DE-FRANCE
Paris
10 Boulevard de Grenelle, Cs 63205
Contacts
+33145384242.0
www.eramet.com