Aperam : Looking brighter in Q2 2019. The worst now seems to be over
>EBITDA at an historical low in Q1 2019 - Q1 2019 EBITDA missed our expectations at € 81m vs € 88m forecast. The disappointment was prompted mainly by the poor performance from the stainless & electrical steel division (EBITDA of € 52m vs € 87m in Q4 2018) which suffered from historically low price levels in Europe and unfavourable seasonality in Brazil. The gains stemming from the Leadership Journey programme, which came to € 34m (i.e. € 67m on an annualised basis vs...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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