02/11/2016

Aperam, Luxembourg

Full year and fourth quarter 2015 results

Aperam announced results for the three month and full year periods ending December 31, 2015. Timoteo Di Maulo, CEO of Aperam, commented: "In 2015, Aperam has continued to improve its operating performance with the best yearly Ebitda over the last 5 years - excluding gains from electricity surplus. Aperam has also continued to strengthen its balance sheet and reinstated a dividend. This reinforces further our confidence on the contribution of the Leadership Journey and the Top Line strategy. Looking ahead, we continue to be cautious given the global economic uncertainty. However, we are confident in the resilience of Aperam and we remain focused on implementing our self-help strategy."


Highlights are:



  • Health and Safety LTI frequency rate of 1.0x in 2015 compared to 1.1x in 2014.

  • Shipments of 1,886 thousand tonnes in full year 2015, a 4% increase compared to shipments of 1,813 thousand tonnes in full year 2014.

  • Ebitda of USD 501 million in full year 2015, compared to Ebitda of USD 547 million in full year 2014, including gains from electricity surplus of USD 3 million and USD 57 million in 2015 and 2014 respectively.

  • Ebitda of USD 105 million in Q4 2015, compared to Ebitda of USD 108 million in Q3 2015.

  • Net income of USD 172 million in full year 2015, compared to net income of USD 95 million in full year 2014.

  • Basic earnings per share of USD 2.21 in 2015 compared to USD 1.21 in 2014.

  • Cash flow from operations amounted to USD 392 million in 2015 compared to USD 240 million in 2014.

  • Net debt of USD 316 million on December 31, 2015, representing a gearing of 14% compared to a net debt of USD 536 million on December 31, 2014.


Prospects:



  • Ebitda in Q1 2016 is expected to slightly increase compared to Ebitda in Q4 2015.

  • Net debt to slightly increase in Q1 2016.


Aperam, Luxembourg