Wednesday, July 25, 2012

Aperam Results

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[1]
  • Health and Safety frequency rate[2] 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[3] of USD 65 million in Q2 2012 compared to EBITDA of USD 64 million in
Q1 2012
  • 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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