Eramet : Relèvement d’EBITDA 2021-2022e, forte génération de FCF…. mais « risk/reward » moins attractif. Neutre vs Surperformance
>La soutenabilité des prix actuels en question - Lors de la publication du CA du T3 2021, le management a confirmé ses objectifs de production minière en 2021 au Gabon (à 7 Mt de minerai de manganèse) et revu à la hausse la production de Weda Bay en Indonésie (à environ 14 Mth de minerai de nickel vs 12 Mth). En revanche, les objectifs d’exports de minerai de nickel de la SLN (Société Le Nickel détenue à 56% par Eramet) ont été réduits à plus de 3 Mth (vs 3,5 Mth) de ...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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