Second quarter 2012 results
Luxembourg, 24 July 2012 - Aperam (referred to as "Aperam" or the "Company") (Amsterdam, Luxembourg, Paris: APAM and NYRS: APEMY), today announced results for the three month period ending June 30, 2012
Health and Safety frequency rate of 1.0x in Q2 2012 compared to 1.0x in Q1 2012
Shipments of 433 thousand tonnes in Q2 2012, flat compared to shipments of 433 thousand tonnes in Q1 2012
EBITDA of USD 65 million in Q2 2012 compared to EBITDA of USD 64 million in
Basic earnings per share of USD (0.36) in Q2 2012
Cash flow from operations amounted to USD 28 million in Q2 2012
Net debt of USD 882 million at June 30, 2012, representing a gearing of 28%
EBITDA in Q3 2012 is expected to be lower compared to EBITDA in Q2 2012 due
to the traditional seasonal slowdown and current market weakness
Net debt to remain under control in Q3 2012
Philippe Darmayan, CEO of Aperam, commented:
"Despite the tougher environment, Aperam was able to achieve results in Q2 comparable to Q1 due to the continuing progress of our Leadership Journey® and a good performance in Brazil and Alloys.
For the remainder of 2012, we continue to remain cautious considering the current economic environment. However, we expect to benefit from the completion of key investment projects related to our Leadership Journey®. We are also confident that stainless steel prices should start to recover during the second half of the year."
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