We update our model for Barco following a good 1H25 update. In our view the structural underlying improvements should more than offset any short-term tariff impact. We also welcome the changed capital allocation strategy and would not be surprised to see another buyback in the future. We reiterate our BUY rating and slightly increase our target price from €17.0 to €17.5. The planned CMD on 23 October could act as a trigger for the stock.
Eramet: Increased focus on operational efficiency following a highly pressured H1 2025 Paris, 30 July 2025, 6:30 p.m. PRESS RELEASE Eramet: Increased focus on operational efficiency following a highly pressured H1 2025 Safety performance remained strong in H1 2025, with a Group TRIFR1 of 0.6 Adjusted EBITDA (excluding SLN)2 at €191m, down 45% vs. H1 2024, primarily from the reduced contribution of PT WBN (-€92m, representing nearly 2/3 of the decline) attributable to: The planned start of new mining production sites at Weda Bay in Indonesia, compounded by constrained operating permit,...
Eramet : priorité à l’efficacité opérationnelle après un 1er semestre 2025 sous forte pression Paris, le 30 juillet 2025, 18h30 COMMUNIQUE DE PRESSE Eramet : priorité à l’efficacité opérationnelle après un 1er semestre 2025 sous forte pression Solide performance en matière de sécurité au S1 2025, avec un TF21 Groupe de 0,6 EBITDA ajusté (hors SLN)2 à 191 M€ en baisse de 45 % par rapport au S1 2024, principalement en raison de la contribution réduite de PT WBN (- 92 M€, soit près de 2/3 de la baisse) s’expliquant par : Le démarrage prévu de nouveaux sites de production minière à Weda B...
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