Q1 2021 Aperam SA Earnings Presentation (Pre-Recorded) Transcript
Good morning, everybody. I'm Tim Di Maulo, CEO of Aperam. Together with Sud Sivaji, Aperam's CFO, I will present Aperam results for the first quarter 2021.
Please take note of our disclaimer regarding forward-looking statements on Page 2 and then move to the key developments on Slide #3.
I'm proud to present you the best quarter in Aperam's history. The earnings trend in Q1 had 3 major drivers. One, in Europe, demand remained strong but imports normalized, which allowed stainless steel price to improve from an extremely depressed level since 2020. The second is that in Brazil, we saw strong demand with a normalizing share of stainless steel in the mix, which is very beneficial for margins. And third is that the higher raw material prices across the spectrum were driving
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