{"id":31540,"date":"2020-07-29T12:00:00","date_gmt":"2020-07-29T10:00:00","guid":{"rendered":"https:\/\/www.eramet.com\/non-classifiee\/eramet-2020-half-year-results\/"},"modified":"2020-07-29T12:00:00","modified_gmt":"2020-07-29T10:00:00","slug":"eramet-2020-half-year-results","status":"publish","type":"post","link":"https:\/\/www.eramet.com\/en\/news\/eramet-2020-half-year-results\/","title":{"rendered":"Eramet : 2020 half-year results"},"content":{"rendered":"<div class=\"import2023\">\n<div class=\"chapo\">\n<p>Substantial growth in mining activities, EBITDA declined significantly in first-half 2020 owing to prices and aerospace crisis.<\/p>\n<\/div>\n<div  >\n<p>To view the webcast about Eramet\u2019s 2019 full-year results, click on the following link:\u00a0<a href=\"https:\/\/edge.media-server.com\/mmc\/p\/kzwxuawk\/lan\/en\">https:\/\/edge.media-server.com\/mmc\/p\/kzwxuawk\/lan\/en<\/a><\/p>\n<ul>\n<li >Raw material sales prices adversely affected: -22% for manganese ore,\u00a0-10% for ferronickel.<\/li>\n<li >Brutal and deep impact of aerospace crisis on results for the High-Performance Alloys division, with cash consumption of \u20ac156m during the period at Aubert &#038; Duval.<\/li>\n<li >Acceleration of portfolio review of least performing assets, all options being considered, including possible Aubert &#038; Duval\u00a0divestment.<\/li>\n<li >Resilient mining activities, in the context of a crisis of unprecedented scale, with an excellent operating performance, thereby confirming the success of the Group\u2019s organic growth strategy:<br \/>\n\t&#8211;\u00a0Increase in manganese ore volumes: 2.8 Mt produced, +31% vs. H1 2019 .<br \/>\n\t&#8211; Increase in nickel ore volumes at SLN: 2.2 Mwmt produced (+12%) and 1.1 Mwmt exported (+120%).<br \/>\n\t&#8211; Successful start-up of four production lines at Weda Bay.<\/li>\n<li >Sharp decline in EBITDA to \u20ac120m owing to the decline in raw material prices and the aerospace crisis at Aubert &#038; Duval, despite intrinsic progress of more than \u20ac120m.<\/li>\n<li >Negative net income, Group share of -\u20ac623m impacted by a non-recurring expense of \u20ac459m, mainly due to crisis, of which \u20ac197m for Aubert &#038; Duval asset impairment and \u20ac142m related to the mothballing of lithium project.<\/li>\n<li >High cash level at \u20ac1.9bn, with strengthened cash control plan measures, and before proceeds from the sale of the TTI plant, subject to ongoing regulatory approvals<\/li>\n<li >Net debt of \u20ac1.5bn, corresponding to a gearing \u00a0of 113%, before impairment; suspension of calculation of Covenants granted for June and December 2020<\/li>\n<\/ul><\/div>\n<div  >\n<div  >\n<div  >\n            <strong ><\/p>\n<p>Christel BORIES<\/p>\n<p><\/strong><\/p>\n<p>Eramet Chairman and CEO<\/p>\n<\/p><\/div>\n<div >\n<div >\n<p>The Covid-19 health crisis has put our industries to the test, profoundly impacting our ecosystems. Above all, it has led to the biggest crisis ever seen in the aerospace sector. Against this background, we have strengthened our cash preservation measures and speeded up the review of our asset portfolio.\u00a0<br \/>\nWe still must overcome a highly volatile and uncertain market environment for all sectors of activity.\u00a0<\/p>\n<p>I want to pay tribute to the incredible commitment of our employees who have been responsive and resourceful in ensuring optimal business continuity while stringently complying with health protection protocol.\u00a0<\/p>\n<p>\nWe have pursued our organic growth strategy in mining activities as well as the optimization of our operations in order to bounce back as soon as the global outlook and markets improve.<\/p>\n<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<div  >\n<div >\n<a href=\"https:\/\/www.eramet.com\/sites\/default\/files\/2020-07\/Eramet-PR-2020-Half-year-Results-20200729.pdf\">Read the press release<\/a><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Substantial growth in mining activities, EBITDA declined significantly in first-half 2020 owing to prices and aerospace crisis. To view the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":31541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[84,44],"tags":[],"class_list":["post-31540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-en","category-group","nature-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Eramet : 2020 half-year results - 29 July 2020 - News - Eramet<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.eramet.com\/en\/news\/eramet-2020-half-year-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eramet : 2020 half-year results - 29 July 2020 - News - Eramet\" \/>\n<meta property=\"og:description\" content=\"Substantial growth in mining activities, EBITDA declined significantly in first-half 2020 owing to prices and aerospace crisis. 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