Aperam : Good Q4 2021 figures portend a solid Q1 2022. Moderate Q4 2021 FCF is a conscious choice by management
>Sound fundamentals not called into question - The trend in demand remains strong in consumer-related segments as well as in those where the recovery has been slower (restaurants/catering, oil & gas, etc.), while shortages are affecting the automotive (components) and construction (raw materials) sectors. Aperam's capacity utilisation rate is at its highest and its backlog provides good visibility. Distributors' stocks are slightly up (although <14% of normal levels)....APERAM is a stainless and specialty steel producer. Co. produces a range of stainless steel products and products including electrical steel (grain oriented, non-grain oriented, and non-grain oriented semi-processed steel), nickel alloys and specialties. Co. sells its products to customers on three continents in over 40 countries, including aerospace, automotive, catering, construction, household appliances and electrical engineering, industrial processes, medical, and oil & gas industries. Co. manages its business according to three operating segments: Stainless and Electrical Steel; Services and Solutions; and Alloys and Specialties.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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