Aperam : Un T4 2020 très solide. Le S1 2021e s’annonce bien. Le rerating devrait se poursuivre. Surperformance réitérée
>L’EBITDA du T4 2020 est ressorti nettement au-delà des attentes - Aperam a publié un EBITDA solide au T4 2020 de 109 M€ (vs 65 M€ au T3 vs ODDO-BHF/consensus d’environ 90 M€). Cette performance meilleure qu’attendu s’appuie sur une bonne performance de Stainless & Electrical Steel Brazil (S&ES Brazil, 43% de l’EBITDA 2020) qui a bénéficié d’une demande solide (sauf pétrole & gaz) accompagnée d’un restockage et d’un mix positif en dépit d’une saisonnalité normalement ...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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