High current operating income for 2018, at €581m, driven by a favourable price environment

In 2018, Eramet posted strong results for the second consecutive year, particularly owing to a favourable price environment. The Group has achieved new production records in its mining operations, taken full control of TiZir, reduced the number of workplace accidents and launched a number of initiatives to improve its operating performance and its commitment as a responsible corporate citizen.

 

Turnover since 2012 (in € millions)

 

 


 Eramet 's sales are up 5% over 2018 to €3,825m in a context of rising metal prices and favourable markets for mineral sands.

 

 

 

 
 

 

 



 

 

Turnover distribution by Division

 

     

 

Manganese BU sales (excluding Mineral Sands activity) grew 2% to €1,857m in 2018 versus 2017, driven by global production for carbon steel, the main end-product for manganese, which achieved a new historic record in 2018.

Nickel BU sales amounted to €738m, up 15% versus 2017, driven mainly by the rise in nickel prices and growth in exported ore volumes.

Sales for the High-Performance Alloys division were down 6% at €1,020m, reflecting contrasting business trends..

 

 

 

 

 

 

Current operating income (in € millions)

 

The Group’s high current operating income is at €581m, with contrasting performances by activity notably production difficulties in Nickel activity, and an unfavourable market environment in the main sectors of the High Performance Alloys division.

 

 

 

 

 

 

 

 

 

 

Industrial Capex (in € millions)

 

  Capex remained moderate at €281m in 2018.

 

 

 

 

 

 

 

 

 

 

 

 

Net income (Group share) (in € millions)

 

Net income - Group share is at €53m1, including a non-current provision of €65m to factor in the overall cost of the quality process review within the High Performance Alloys division.

 

 

 

 

 

 

 

 

 

 

Consolidated net cash position (in € millions)

 

 
Net debt stood at €717m at 31 December 2018, corresponding to a gearing of 38%, versus €376m at end-2017.

 

 

 

 

 

 

 

 

 

 

 

Read Eramet’s 2018 full-year results press release of 02/20/2019

 

Read Eramet’s 2018 full-year results presentation of 02/21/2019

 

Read Eramet’s 2018 full-year results webcast of 02/21/2019

 

NB: Consolidated data for the Group and by Division is adjusted data resulting from the Group’s reporting, with joint ventures accounted for on a proportional consolidation basis.

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