Aperam update on Q1 2025 market & financial trends

Aperam update on Q1 2025 market & financial trends

Luxembourg, April 3, 2025 (07:00 CEST) - In preparation of the upcoming quarterly results release scheduled for Wednesday, 30 April 2025, we would like to remind market participants of the standing guidance, earnings drivers and events that should be considered.

The Q1 2025 outlook, as specified in the Q4 2024 presentation, the management podcast and during the conference call was:

• Q1 2025 group adjusted EBITDA lower than Q4 2024 (EUR116m) despite seasonally higher shipments in Europe and the first time consolidation of Universal. These positive effects will be more than offset by pricing pressure in Europe, a clearly negative valuation effect and the seasonal trough in Brazil.
• The Aperam compiled Q1 2025 adjusted EBITDA consensus stands at EUR87m (average) currently. The consensus is updated & published at:
  https://www.aperam.com/investors/news-contacts/results
• Higher net financial debt versus the EUR544m reported at year end 2024 due to the acquisition of Universal Stainless & Alloy Products for USD537m (€518m) and seasonally higher net working capital. Capex was guided at EUR200m for 2025 with a higher share being spent in Q1. As a consequence of higher NWC and a high capex spend we project a negative free cash flow for first quarter  2025.

Please note that forward guidance for adjusted EBITDA, cash flow and net debt is always provided on a stable commodity price assumption.

Forward Looking Statements

This document may contain forward-looking information and statements about Aperam SA and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words ‘’believe’’, ‘’expect’’, ‘’anticipate’’, ‘’target’’ or similar expressions. Although Aperam’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Aperam’s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of Aperam, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in Aperam’s filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier). The information is valid only at the time of release and Aperam does not assume any obligation to update or revise its forward-looking statements on the basis of new information, future events, subject to applicable regulation.

Contact

Investor Relations / Thorsten Zimmermann: IR@aperam.com
Communication / Ana Escobedo Conover: Ana.Escobedo@aperam.com