Eramet : Good Q1 release and importantly 2024 EBITDA estimate raised to still conservative levels
>Good Q1 release driven by Comilog - Eramet this morning reported adjusted sales of € 761m, 3% above our estimates driven by a robust performance in the core manganese division. Manganese ore output (Comilog) posted a record performance for a first quarter while alloy production recovered with the normalisation in energy prices. Nickel production at Weda Bay was also robust even though sales were slowed down by the lack of permits for low grade saprolites, still under...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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