Eramet : Qui va piano va sano
2024 results were impacted by a difficult market context and an operating licence for Weda Bay revised downwards by the Indonesian government, without however deviating from expectations. The financial situation has weakened following the purchase of Tsingshan's 49.9% stake in Centenario, but this operation makes sense from a strategic and operational point of view. At this stage, we expect credit ratios to remain virtually stable over the next two years, and we are revising our outlook from Negative to Stable. We are also upgrading our recommendation on the 2028 and 2029 bonds.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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