Eramet released its Q3 trading statement. Sales in Q3 reached €739m, down 6% yoy. Over 9 months, sales are up 2% to €2,365m. The Board has decided to strengthen its action plan to improve free cash flow by reducing capex to pure maintenance, postponing all other projects (and sticking to its cost reduction plan aimed at saving €360m yearly). The group also indicates that its operating profit in H2 will be lower than in H1 (where, as a reminder, EBITDA was €79m and current
30 Oct 2015
Q3 15: from bad to worse
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Q3 15: from bad to worse
Eramet SA (ERA:PAR) | 0 0 (-1.2%) | Mkt Cap: 3,199m
- Published:
30 Oct 2015 -
Author:
Fabrice Farigoule -
Pages:
2
Eramet released its Q3 trading statement. Sales in Q3 reached €739m, down 6% yoy. Over 9 months, sales are up 2% to €2,365m. The Board has decided to strengthen its action plan to improve free cash flow by reducing capex to pure maintenance, postponing all other projects (and sticking to its cost reduction plan aimed at saving €360m yearly). The group also indicates that its operating profit in H2 will be lower than in H1 (where, as a reminder, EBITDA was €79m and current