Aperam - Edelstahlaktie - 500 Beiträge pro Seite

[mickefett]

4 February 2013
Full year and fourth quarter 2012 results

Luxembourg, February 4, 2013 - Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris: APAM and NYRS: APEMY), today announced results for the three month and twelve month periods ending December 31, 2012.

Philippe Darmayan, CEO of Aperam, commented:

"In a difficult environment Aperam has been able in 2012 to successfully progress with its Leadership Journey® and reduce its net debt. Looking ahead, we continue to remain cautious considering the current general environment and industry volatility despite some positive signs of market improvement. We have decided to expand our Leadership Journey® and accelerate our net debt reduction to be in a good position to capture industry opportunities."

Highlights

Health and Safety frequency rate2 of 1.3x in 2012 compared to 0.7x in 2011
Shipments of 1,683 thousand tonnes in full year 2012, a 4% decrease compared to full year 2011
EBITDA3 of USD 214 million in full year 2012, compared to USD 356 million in full year 2011
Basic loss per share of USD 1.39 in 2012
Cash inflow from operations amounted to USD 278 million in 2012
Net debt of USD 816 million at December 31, 2012, representing a gearing of 26%, compared to a net debt of USD 878 million at December 31, 2011
Prospects

EBITDA in Q1 2013 is expected to improve compared to Q4 2012. Due to higher activity, net debt is expected to increase in Q1 2013 compared to Q4 2012
Plan 2013-2014

Expansion of Leadership Journey® to 2014. USD 150 million targeted over next 2 years
Dividend stopped to accelerate net debt reduction. Target of net debt of USD 650 million by the end of 2014

[mickefett]

http://www.aperam.com/uploads/pdf/media/Annual%20Report%2020…

[sdaktien]

Herzlichen Dank,

ich bin jetzt nur mal grob drübergeflogen. Es sieht momentan nicht so gut aus.
Gibt es eine Aussage darüber, wann man wieder Gewinne einfahren will?

[mickefett]

Antwort auf Beitrag Nr.: 44.245.714 von sdaktien am 13.03.13 11:34:59

Dieser Wert ist sehr konjunkturabhängig. Von Aperam selbst weiß ich keine Prognose. Aber imho ist Stahl und besonders Edelstahl jetzt wieder im Kommen, so dass zwar 2013 wieder Gewinne da sein könnten. Trotzdem wird es keine Dividende geben, weil man erst die Nettoverschuldung zurückfahren will.

[sdaktien]

Das klingt auf der einen Seite gut. D.h. aber auch dass trotz operativ guter Entwicklung am Ende des Jahres wieder ein Minus stehen könnte weil die Verschuldung zu hoch ist?

[atze50]

Aperam ist ein Spin-Off von Arcelor Mittal. Die haben sie/ es 2011 an die Börse gebracht. Seitdem ist der Kurs aber ziemlich gefallen. Als Altaktionär hat man automatisch Aperam Aktien ins Depot gelegt bekommen.

[atze50]

Der Kurs ist von 30,- Eur auf 10,- Eur gefallen u. scheint auf den ersten Blick sehr günstig.

Laut der Angaben auf Comdirect liegt der Buchwert ca. bei 42,- Eur.

kann das sein? - das wäre ja eine massive Unterbewertung!

[atze50]

http://www.tageblatt.lu/wirtschaft/story/19451242

[atze50]

muss mich korrigieren. Der Buchwert liegt bei umgerechnet rd. 31,- Eur. Damit ergibt sich ein KBV von nur: 0,31

[mickefett]

Full year and fourth quarter 2013 results




•English version
•French version

Luxembourg, February 6, 2014 - Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris: APAM and NYRS: APEMY), announced today results for the three month and full year periods ending December 31, 2013.

Philippe Darmayan, CEO of Aperam, commented:

“In 2013, despite a deterioration of market conditions, we were able to improve our profitability and reduce our net debt level. Looking ahead, we continue to remain cautious considering the global economic uncertainty for 2014. However, we believe that Aperam is now well positioned to benefit from any market recovery. We are also extending the Leadership Journey® to further improve our operational performance.”

Highlights
•Health and Safety frequency rate2 of 1.3x in 2013 compared to 1.3x in 2012
•Shipments of 1,728 thousand tonnes in full year 2013, a 3% increase compared to shipments of 1,683 thousand tonnes in full year 2012
•EBITDA3 of USD 292 million in full year 2013, compared to EBITDA of USD 2174 million in full year 2012
•Basic loss per share of USD 1.28 in 2013
•Cash flow from operations amounted to USD 204 million in 2013
•Net debt5of USD 690 million on December 31, 2013, representing a gearing of 23% compared to a net debt of USD 816 million on December 31, 2012

Prospects
•EBITDA in Q1 2014 is expected to increase compared to EBITDA in Q4 2013
•Net debt to remain under control in Q1 2014

2014-2015 Plan
•Expansion of Leadership Journey® to USD 475 million by 2015, targeting more than USD 100 million of gains over next 2 years

Financial Highlights (on the basis of IFRS)

(USDm) unless otherwise stated 12M ‘13 12M ‘124 Q4 ‘13 Q3 ‘13 Q4 ‘124
Sales 5,120 5,261 1,281 1,204 1,294
EBITDA 292 217 84 62 43
Operating (loss) / income (11) (103) 3 (8) (45)
Net loss (100) (111) (42) (19) (53)

Steel shipments (000t) 1,728 1,683 441 436 407
EBITDA/tonne (USD) 169 129 190 142 106
Basic loss per share (USD) (1.28) (1.43) (0.53) (0.24) (0.69)



Health & Safety results analysis

Health and Safety performance based on Aperam personnel figures and contractors’ lost time injury frequency rate2, was 1.0x in the fourth quarter of 2013 compared to 1.9x in the third quarter of 2013.

Financial results analysis

Sales in the fourth quarter of 2013 increased by 6% at USD 1,281 million compared to USD 1,204 million in the third quarter of 2013. Shipments in the fourth quarter of 2013 increased by 1% at 441 thousand tonnes compared to 436 thousand tonnes in the third quarter of 2013.

EBITDA was USD 84 million in the fourth quarter of 2013 compared to EBITDA of USD 62 million in the third quarter of 2013. This increase was primarily driven by better activity in Europe and the contribution of the Leadership Journey®6 and the Top Line strategy. The Leadership Journey®6 has continued to progress over the quarter and has contributed a total amount of USD 369 million to EBITDA since the beginning of 2011.

Depreciation and impairment expense in the fourth quarter of 2013 was USD 81 million.

Aperam had an operating income in the fourth quarter of USD 3 million compared to an operating loss of USD 8 million in the previous quarter.

Net interest expense and other financing costs in the fourth quarter of 2013 were USD 32 million, primarily related to financing costs of USD 23 million. Realized and unrealized foreign exchange and derivative losses were USD 3 million in the fourth quarter of 2013.

The Company recorded a net loss of USD 42 million, inclusive of an income tax expense of USD 9 million, in the fourth quarter of 2013.

Cash flows from operations in the fourth quarter were positive at USD 143 million, with a working capital decrease of USD 45 million. In addition, the company managed to offset over the quarter the negative impact of the TSR change recorded in the first quarter of 2013 CAPEX in the fourth quarter was USD 30 million.

As of December 31, 2013, shareholders’ equity was USD 2,958 million and net financial debt5 was USD 690 million (gross financial debt as of December 31, 2013 was USD 982 million and cash, cash equivalents and restricted cash were USD 292 million).

The Company had liquidity of USD 797 million as of December 31, 2013, consisting of cash and cash equivalents of USD 291 million and undrawn credit lines7 8 of USD 506 million.

Operating segment results analysis

Stainless & Electrical Steel

The Stainless & Electrical Steel segment had sales of USD 997 million in the fourth quarter of 2013. This represents an increase of 9% compared to sales of USD 915 million in the third quarter of 2013. Shipments during the fourth quarter were 425 thousand tonnes. This is an increase of 4% compared to shipments of 408 thousand tonnes in the previous quarter. In Europe, shipments were 261 thousand tonnes and in South America shipments were 164 thousand tonnes (compared to 226 thousand tonnes in Europe and 182 thousand tonnes in South America in Q3 2013). Although the volumes declined in Brazil due to the seasonal impact, the overall volumes were higher over the quarter mainly as a result of higher activity in Europe. Overall, average selling prices for the Stainless & Electrical Steel segment were higher for the quarter.

The segment had EBITDA of USD 58 million in the fourth quarter of 2013 compared to USD 36 million in the third quarter of 2013. EBITDA from South America increased in the fourth quarter of 2013 to USD 37 million from USD 34 million in the third quarter of 2013. Over the quarter, a USD 9 million of capital gain was recognized in relation to the sale of some real estates in Brazil. Excluding this one-off item, the EBITDA in South America decreased as a result of the seasonal effect partially offset by the impacts of the Leadership Journey® and the Top Line strategy. EBITDA from Europe significantly increased from USD 2 million in the third quarter of 2013 to USD 21 million in the fourth quarter of 2013. The increase in EBITDA in Europe was primarily driven by higher volumes due the demand improvement in the fourth quarter and the continuing progress of the Leadership Journey®.

Depreciation and amortization expense was USD 63 million and impairment expense was USD 2 million in the fourth quarter of 2013.

The Stainless & Electrical Steel segment had an operating loss of USD 7 million during the fourth quarter of 2013 compared to an operating loss of USD 21 million in the third quarter of 2013.

Services & Solutions

The Services & Solutions segment had a 4% increase in sales during the quarter, from USD 516 million in the third quarter of 2013 to USD 535 million in the fourth quarter of 2013. In the fourth quarter of 2013, shipments were 169 thousand tonnes compared to 165 thousand tonnes in the previous quarter. The Services & Solutions segment had lower average selling prices during the period.

The segment had positive EBITDA in the fourth quarter of 2013 of USD 5 million compared to positive EBITDA of USD 1 million in the third quarter of 2013. Overall, the increase of EBITDA was mainly driven by higher volumes and the good progress on the Leadership Journey®.

Depreciation and amortization expense was USD 6 million and impairment expense was USD 5 million in the fourth quarter of 2013.

The Services & Solutions segment had an operating loss of USD 6 million in the fourth quarter of 2013 compared to an operating loss of USD 5 million in the third quarter of 2013.

Alloys & Specialties

The Alloys & Specialties segment had sales in the fourth quarter of 2013 of USD 160 million, representing an increase of 8% compared to USD 148 million in the third quarter of 2013. Shipments were higher in the fourth quarter of 2013 at 9 thousand tonnes compared to 8 thousand tonnes in the third quarter of 2013. Average selling prices decreased over the quarter.

The Alloys & Specialties segment achieved EBITDA of USD 17 million in the fourth quarter of 2013 compared to USD 16 million in the third quarter of 2013. The EBITDA improvement is mainly due to higher volumes and the completion of the investment launched in 2011 as part of the Leadership Journey®.

Depreciation and amortization expense in the fourth quarter of 2013 was USD 2 million.

The Alloys & Specialties segment had an operating income of USD 15 million in the fourth quarter of 2013 compared to an operating income of USD 14 million in the third quarter of 2013.

Recent developments
•On November 6, 2013 Aperam announced the appointment of Mr. Sandeep Jalan as the Company's new Chief Financial Officer effective January 15, 2014 following the resignation of Mr. Julien Onillon to realize a personal project. Mr. Jalan has over twenty years of experience in finance and was previously the CFO of ArcelorMittal Long Carbon Europe, responsible for finance and strategy.
•On December 23, 2013 Aperam announced its financial calendar for 2014. The financial calendar is available on the Company’s web site at the following link: www.aperam.com/about-2/investors-shareholders/2014-financial-calendar


New developments
•During its meeting on February 6, 2014, Aperam’s Board of Directors decided to submit to the shareholders’ vote, at the Company’s next annual general meeting scheduled on May 8, 2014, a proposal to continue paying no dividend in 2014 in order to support the previously announced net debt reduction program.
•On February 6, 2014, Aperam announces that in order to continuously enhance its costs competitiveness, the company will expand the Leadership Journey® to a new target of USD 475 million by 2015. This includes the previously announced target of USD 425 m by the end of 2014
•On February 6, 2014, the Board of Directors of Aperam approved an investment of USD 10 million in debottlenecking the finishing line of the Imphy Wire Rod mill. This follows the completion of the Imphy meltshop enhancement and aims at further improving competitiveness and increasing revenue in the Alloys & Specialties segment.
•On February 6, 2014, Aperam announces that it obtained a new in-principle refinancing commitment to extend Tranche B portion of USD 600 million Borrowing Base Facility from March 2015 until March 2016.

[mickefett]

29 July 2015
Second quarter 2015 results

English version
French version






Luxembourg, July 29, 2015 - Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris: APAM and NYRS: APEMY), announced today results for the three month period ended June 30, 2015

Timoteo Di Maulo, CEO of Aperam, commented:

“We are pleased to have continued to enhance our net income in the second quarter thanks to the Leadership Journey®5 and the Top Line strategy but also due to the recent actions to optimise Aperam’s cost of debt.

For the remainder of 2015, we are cautious in view of the current economic environment and in particular uncertainties regarding the nickel price evolution. However we are confident that the ongoing projects will continue to improve our operational agility and efficiency.”



Highlights


Health and Safety frequency rate2 of 0.8x in Q2 2015 compared to 1.3x in Q1 2015.



Shipments of 486 thousand tonnes in Q2 2015 compared to 469 thousand tonnes in Q1 2015.



EBITDA3 of USD 155 million in Q2 2015, compared to USD 133 million in Q1 2015.



Net Income of USD 66 million in Q2 2015, compared to USD 42 million in Q1 2015.



Basic earnings per share of USD 0.85 in Q2 2015 compared to USD 0.54 in Q1 2015.



Cash flow from operations amounted to USD 78 million in Q2 2015 compared to USD 80 million in Q1 2015.



Net debt4 of USD 454 million (with a gearing of 19%) as of June 30, 2015, compared to USD 508 million as of March 31, 2015.





Prospects


EBITDA in Q3 2015 is expected to be lower compared to Q2 2015 due to the traditional seasonal slowdown and current economic environment.



Net debt to slightly decrease in Q3 2015.





Financial Highlights (on the basis of IFRS)

(USDm) unless otherwise stated


Q2 15


Q1 15


Q2 14


H1 2015


H1 2014

Sales


1,264


1,258


1,444


2,522


2,838

EBITDA


155


133


164


288


293

Operating income


109


86


107


195


161

Net income


66


42


36


108


55


















Steel shipments (000t)


486


469


466


955


941

EBITDA/tonne (USD)


319


284


352


302


311

Basic earnings per share (USD)


0.85


0.54


0.46


1.39


0.70




Health & Safety results analysis

Health and Safety performance based on Aperam personnel figures and contractors’ lost time injury frequency rate2 was 0.8x in the second quarter of 2015 compared to 1.3x in the first quarter of 2015.



Financial results analysis

Sales in the second quarter of 2015 were stable at USD 1,264 million compared to USD 1,258 million in the first quarter of 2015. Shipments in the second quarter of 2015 increased by 4% at 486 thousand tonnes compared to 469 thousand tonnes in the first quarter of 2015.

EBITDA was USD 155 million in the second quarter of 2015 compared to EBITDA of USD 133 million in the first quarter of 2015. EBITDA increased as a result of improved apparent stainless steel demand in Europe, the Leadership Journey®5 contribution, the Top Line strategy and the seasonal recovery in South America. The Leadership Journey® has continued to progress over the quarter and has contributed a total amount of USD 455 million to EBITDA since the beginning of 2011.

Depreciation and amortization expense in the second quarter of 2015 was USD 46 million.

Aperam had an operating income in the second quarter of USD 109 million compared to an operating income of USD 86 million in the previous quarter.

The Company recorded a loss from other investments of USD 6 million on its minority stake it holds in Gerdau, a Brazilian steelmaker, according to the prolonged decline of the share price of that investment compared to its book value.

Net interest expense and other financing costs in the second quarter of 2015 were USD 15 million, primarily related to financing costs of USD 7 million. Realized and unrealized foreign exchange and derivative gains were USD 2 million in the second quarter of 2015.

The Company recorded a net income of USD 66 million, inclusive of an income tax expense of USD 23 million, in the second quarter of 2015.

Cash flows from operations in the second quarter were positive at USD 78 million, despite a working capital increase of USD 24 million. CAPEX in the second quarter was USD 24 million.

As of June 30, 2015, shareholders’ equity was USD 2,449 million and net financial debt4 was USD 454 million (gross financial debt as of June 30, 2015 was USD 526 million and cash and cash equivalents were USD 72 million).

The Company had liquidity of USD 522 million as of June 30, 2015, consisting of cash and cash equivalents of USD 72 million and undrawn credit lines6 of USD 450 million.



Operating segment results analysis

Stainless & Electrical Steel

The Stainless & Electrical Steel segment had sales of USD 1,031 million in the second quarter of 2015. This represents an increase of 1% compared to sales of USD 1,021 million in the first quarter of 2015. Shipments during the second quarter were 483 thousand tonnes. This is an increase of 5% compared to shipments of 462 thousand tonnes in the previous quarter. The volume increase was mainly due to seasonal recovery in South America compared to the first quarter.

The segment had EBITDA of USD 139 million in the second quarter of 2015 compared to USD 110 million in the first quarter of 2015. The results from sale of electricity surplus in Brazil were insignificant in the second quarter compared to USD 4 million positive in the first quarter 2015. The operational profitability of South America improved despite weaker local market conditions, primarily thanks to the Top Line strategy and Leadership Journey® actions. In Europe, the performance improved due to the good contribution of the Leadership Journey®, the Top Line strategy.

Overall, average selling prices for the Stainless & Electrical Steel segment were lower for the quarter, mainly due to nickel price.

Depreciation and amortization expense was USD 39 million in the second quarter of 2015.

The Stainless & Electrical Steel segment had an operating income of USD 100 million during the second quarter of 2015 compared to an operating income of USD 70 million in the first quarter of 2015.



Services & Solutions

The Services & Solutions segment had a 2% decrease in sales during the quarter, from USD 580 million in the first quarter of 2015 to USD 569 million in the second quarter of 2015. In the second quarter of 2015, shipments increased by 1% at 202 thousand tonnes compared to 200 thousand tonnes in the previous quarter. The Services & Solutions segment had lower average selling prices during the quarter compared to the previous quarter.

The segment had EBITDA of USD 14 million in the second quarter of 2015 compared to EBITDA of USD 18 million in the first quarter of 2015. Overall, the decrease of EBITDA was mainly due to the negative stock effect related to the nickel price.

Depreciation and amortization expense was USD 5 million in the second quarter of 2015.

The Services & Solutions segment had an operating income of USD 9 million in the second quarter of 2015 compared to an operating income of USD 13 million in the first quarter of 2015.


Alloys & Specialties

The Alloys & Specialties segment had sales in the second quarter of 2015 of USD 157 million, representing an increase of 2% compared to USD 154 million in the first quarter of 2015. Shipments in the second quarter of 2015 were comparable to shipments in the first quarter of 2015 at 10 thousand tonnes. Average selling prices increased quarter over quarter.

The Alloys & Specialties segment achieved EBITDA of USD 13 million in the second quarter of 2015 compared to USD 14 million in the first quarter of 2015. The EBITDA decrease is mainly due to product mix and negative forex translation effect.

Depreciation and amortization expense in the second quarter of 2015 was USD 1 million.

The operating income of the Alloys & Specialties segment in the second quarter of 2015 was stable compared to the first quarter at USD 12 million.


New developments



On July 29, 2015, the Company announced tranche 3 of its assets base upgrade with an additional USD 30 million CAPEX on improving efficiency and competitiveness in Gueugnon (lines CR6, BA8) and in Imphy (compact box annealing furnaces of the Wire Rod mill). These investments are part of the announced extension of the Leadership Journey® to USD 575 million.



Investor conference call

Aperam management will host a conference call for members of the investment community to discuss the second quarter 2015 financial performance at the following time:

[fmhbolero]

9 February 2017

Full year and fourth quarter 2016 results

Aperam announces a share buyback program

Aperam announces dividend payment schedule for 2017