Q3 2025 Aperam SA Earnings Call Transcript
Key Points
- Aperam SA (APEMY) has received a renewal of antidumping duties from China and Taiwan on CRC, which helps mitigate price pressure from imports in Brazil.
- The company expects a seasonal increase in volumes in Europe for Q4, aligning with typical patterns.
- Aperam SA (APEMY) is confident in the long-term positive impact of the Carbon Border Adjustment Mechanism (CBAM) on market conditions.
- The aerospace market is expected to recover in 2026 after a phase of destocking, with a solid order book from major producers.
- Aperam SA (APEMY) maintains a target of EUR100 million EBITDA for its alloys business, with synergies from the Universal acquisition expected to contribute positively in the future.
- There is price pressure in Brazil on non-stainless products, specifically commodity electrical steel grades, due to imports.
- The aerospace end market has been softer than initial expectations, with a prolonged phase of destocking affecting performance.
- The company faces uncertainties regarding the implementation timeline and specifics of CBAM, which could impact market dynamics.
- Aperam SA (APEMY) has experienced temporary weakness in the oil and gas market, affecting its alloys business performance.
- Financing costs have increased due to recent refinancing, with expectations of higher interest rates impacting future financials.
Ladies and gentlemen, welcome to the Aperam third-quarter 2025 results conference call. I am George the Chorus Call operator. The conference is being recorded. (Operator Instructions) The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Timoteo Di Maulo, CEO. Please go ahead.
Hello, everybody, and thank you very much for joining our conference call today. All our comments were contained in the podcast that we published this morning, which you know supports our quarterly financial reporting and where applicable, our disclosure of regulatory information. We also save more time for your partner question during this call.
As you know, this is my last quarterly conference call as CEO of Aperam. I'm proud of the work we have done to the stronger resilient pattern during the last 11 years. Just like in the podcast, my colleagues, Sud Sivaji and Nicolas Changeur are here, and together, we are working forward
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