Report

Aperam : Q1 2021 should be better than expected. The rest of the year as well. The re-rating is set to continue

>Q1 2021 much better than expected - For Q1 2021, the group confirmed the good trend in business (final demand and inventory rebuilding) for the S&ES Europe division (31% of 2020 EBITDA) in most segments (in particular automotive and household appliances) while construction slowed. Oil & gas, catering and some capital goods segments remain weak. The rise in prices, which was perceptible at end-2020, accelerated in Q1 2021 (CRC 304 base price around € 1,000/t, in our v...
Underlying
Aperam SA

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.

Provider
Oddo BHF
Oddo BHF

​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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