Eramet : A try to be converted in H2
Publication date 08/08/2017 15:29 - Writing date 08/08/2017 15:26 - - - - - - - - - Corporate Governance : High risk (4) - / - / - 24/10/17Â : Q3 2017 sales - - - - - - - - - - - - - - - - - - - - - Eramet has reported solid H1Â 2017 results, mainly driven by the increase in manganese prices, which boosted EBITDA in this division and had positive repercussions on credit metrics. - If this operating recovery continues into H2 and the group maintains positive free cash flow generation, we may upgrade our estimated rating from B+ today to BB. - But given the lack of visibility on nickel and manganese prices in the second half of the year, we are erring on the side of caution by raising our outlook on the credit from stable to positive. - - >Eramet is a mining and metallurgical group, which specializes in the extraction, production and marketing of non-ferrous metals, their chemical derivatives, alloys and superalloys, and parts. Co.'s operations are divided into three divisions: Nickel division which focuses on nickel and its derivative applications; Manganese division which focuses on manganese alloys, manganese chemical derivatives and provides recovery and recycling services of metals contained in oil-industry catalysts, electric batteries and acid solutions; and Alloys division which produces and sells special high-performance steels, superalloys and pre-machined parts based on these materials or aluminium and titanium.
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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