Eramet : A card to play
In our last update on du 25 July 2019, we downgraded our credit opinion on Eramet from Stable to Negative and our recommendation from Neutral to Reduce, since we were disappointed by H1 results and the cut to 2019 EBITDA guidance. We were also worried by the costs associated with the two projects the group wished to develop (new lithium mine in Argentina and extension of manganese ore production capacity in Gabon), due to cost € 525m over three years and € 640m over five years re...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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