Eramet : Q3 revenues lower than expected and strong revision to EBITDA target
>Q3 release misses expectations in two main activities - Eramet this morning reported adjusted revenues of € 809m, 12% below our estimate because of the poor performance in the two main Manganese and Nickel businesses. In Manganese, prices soared in reaction to the halt to production at the other main high grade ore producer Gemco but volumes fell amid a decline in Chinese steel production and an influx in opportunistic supply from South Africa. In Nickel, Weda Bay s...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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