Eramet : A credible and ambitious CMD, but at the expense of a phase of significant capex; target price raised to € 89
>Ambitious production targets against high capex - We attended the first CMD in the group’s history, held yesterday, in Paris. It enabled us to better understand the functioning of operations and provided an opportunity to meet the group’s key managers. In addition to the CEO Christel Bories and CFO Nicolas Carré, with whom investors are already familiar, the presentations on operations were made by Geoff Streton, Chief Development Officer, Virginie de Chassey, Chief...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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