Aperam Reports Improved Third Quarter 2024 Results

Aperam S.A., a leading producer in the stainless, electrical steel, and specialty steels markets, announced its financial results for the third quarter of 2024. The company witnessed a notable improvement in several key areas, underscoring the positive impacts of its strategic initiatives.

During the third quarter, shipments increased by 5.5% to 617 thousand tonnes, driven by the enhanced operational efficiency in Brazil. Adjusted EBITDA rose to EUR 99 million from EUR 86 million in the previous quarter, fueled by higher prices and efficiencies despite challenges in inventory valuation and lower steel volumes. Meanwhile, net income increased dramatically to EUR 179 million up from EUR 59 million in Q2 2024.

The ongoing Leadership Journey® Phase 5 has shown progress, contributing to a EUR 27 million gain in the third quarter as part of a broader EUR 200 million target by 2026. Looking ahead, the company expects an increase in EBITDA by the end of 2024 and plans to reduce net financial debt.