Aperam : Q4 EBITDA will be better than the Q3 figure. Buy rating reiterated
>Q3 2020 figures significantly stronger than expected - Aperam reported a solid EBITDA of €65m in Q3 2020 (vs forecast stable on a sequential basis to €49m). This stronger-than-expected showing is based on a good performance from Stainless and Electrical Steel Brazil, which knew how to optimise its industrial base and its multi-product strategy (stainless steels, electric steels, special carbon steels) despite a normally unfavourable seasonality. Europe held up well t...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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