Report

Aperam : Same again. Outperform rating reiterated

>The business environment remained favourable in Q2 2021 - The market environment remains buoyant, in particular, household appliances, automotive and construction are holding up well, while activities related to oil & gas, restaurants and certain capital goods remain weak. Stocks at distributors have normalised in Europe. Lead times now extend to 3 months (vs 2 months normally). The market share of imports fell back in Q1 to under 20% (vs 31% in Q3 2020) as a result ...
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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