Report

Aperam : The current situation validates just a return to normal. Although H2 2021 could achieve a new record. Acquisition of ELG covered by FCF

>A return (just) to normal - Management thinks that the volume and price environment is normalising. Demand remains robust, particularly, in the household appliances and automobile segments, whilst construction is picking up. Lastly, activities notably linked to oil & gas, restaurants and certain capital goods are picking up slowly. Stocks at distributors have normalised in Europe. Lead times now extend to 3 months (vs 2 months usually). In Q1 the market share of impo...
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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