Aperam recorded a revenue of 1,410 million euros in the third quarter of 2025, down 14.8% from 1,654 million euros in the previous quarter. EBITDA also decreased to 74 million euros from 112 million euros in the second quarter. The company's shipments fell by 4.1%, from 591 thousand tonnes to 567 thousand tonnes. The net loss recorded was 21 million euros, compared to a net profit of 19 million euros in the previous quarter.
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Aperam's strategic initiatives under the Leadership Journey® Phase 5 program generated gains of 29 million euros in the third quarter, bringing the cumulative total to 165 million euros. This is approaching the target of 200 million euros set for the 2024-2026 period. The free cash flow before dividends was 138 million euros. Net financial debt was reduced to 1,045 million euros as of September 30, 2025, down from 1,143 million euros as of June 30, 2025.
Outlook and Market Conditions
Despite ongoing price pressures and a seasonal slowdown in Europe, Aperam expects that the adjusted EBITDA for the fourth quarter of 2025 will be slightly lower than that of the third quarter. Net financial debt is expected to decrease by more than 200 million euros by the end of 2025 compared to the peak in the first quarter. The management remains focused on its transformation and controllable factors to navigate through challenging market conditions.
Je suis heureux d'annoncer que nous avons généré un flux de trésorerie disponible solide de 138 millions d'euros, ce qui nous a permis de réduire considérablement notre dette nette à 1 045 millions d'euros.
Ralentissement saisonnier et pression sur les prix en Europe entraînant une baisse des volumes et de l'EBITDA; génération de trésorerie solide et réduction de la dette nette; progrès sur les initiatives Leadership Journey®.
Risks mentioned
Pression continue sur les prix des métaux et des produits
Ralentissement saisonnier affectant les volumes
Surcapacité mondiale du secteur de l'acier
Dépendance à l'évolution des prix des métaux (perspectives conditionnelles)
Opportunities identified
Initiative Leadership Journey® Phase 5 visant 200 millions d'euros de gains (29 millions d'euros réalisés au T3, cumul 165 millions d'euros)
Réduction prévue de la dette financière nette de plus de 200 millions d'euros d'ici fin 2025
Proposition de la Commission européenne visant à atténuer les effets négatifs de la surcapacité mondiale pour le secteur de l'acier en Europe
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