Q2 2024 Aperam SA Earnings Call Transcript
Key Points
- Aperam SA (APEMY) has seen some recovery in prices and volumes in Europe at the end of Q2, which is expected to continue into Q3.
- The company has invested in cost competitiveness and product mix, which is progressively coming on stream and supporting their operations.
- Aperam SA (APEMY) has finalized the ramp-up of their European plants, restoring cost competitiveness and improving operational efficiency.
- The company has a strong recycling business, which is the largest stainless steel scrap recycler in the world, contributing positively to their inventory valuation.
- Aperam SA (APEMY) has a clear financial policy and is committed to generating free cash flow to cover dividends without raising debt.
- European pricing remains below normal levels, and there is a lag effect in pricing adjustments, which could be a headwind in the Q3 to Q4 bridge.
- The company faces challenges with inventory revaluation due to fluctuating raw material prices, particularly nickel.
- The European market is experiencing a seasonal low quarter, which could result in relatively neutral performance for Aperam SA (APEMY).
- There are concerns about the impact of competitors returning to the market, which could affect pricing and market share.
- The ramp-up of the Brazilian hot-rolling mill has been slow, impacting competitiveness and volumes in Brazil.
Hello, and welcome to the Aperam Q2 2024 Results Conference Call. My name is Caroline, and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration of the call, your lines will be on listen only mode. However, you will have an opportunity to ask questions at the end of the call. This can be done by pressing star one on your telephone keypad to register your questions. If you require assistance at any point, please press star zero. Any connected to an operator. I will now hand over the call to your hosting Timoteo Di Maulo, the CEO, to begin today's conference.
Thank you from Hello, everybody, and good afternoon and welcome to this to this call. So I and I'm here with Sudhakar Sivaji, our CFO, and we will open directly to your question as I suppose that everybody has had the possibility to go to our podcast.
Thank you.
Questions & Answers
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