Aperam's Stock Reaches a 4-Year High of €45.50 Following Q1 Results
The stock of the Luxembourg-based steelmaker surged mid-morning to €45.36, after hitting €45.50 during the session, its highest level in four years. The previous peak was in February 2022, at the start of Russia's invasion of Ukraine. This spike occurred on the day the first quarter 2026 results were published, contrary to a CAC 40 that fell by 1.19%.
Aperam released its first quarter 2026 accounts this morning. The group reported an increase in shipments, mainly due to European seasonality, and an improvement in adjusted EBITDA supported by higher volumes in Europe and cost management. At the same time, net results fell to 3 million euros, free cash flow deteriorated, and net financial debt increased. Details are provided in the press release published this morning on the quarterly results of the group. Today's session continues a trend that began in April: the stock has gained 25.23% over three months and 65.19% over a year. In early April, the stock was trading around €35; it has since successively breached the €38, €41, and €45 levels. The annual general meeting of shareholders is scheduled for May 5, 2026, and the publication of the second quarter revenue on July 30.
Above the Bollinger Bands, the Stock Moves Away from Its Moving Averages
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The price is moving above the upper boundary of the Bollinger Bands, set at €45.29. This configuration, already observed in mid-April according to a previous band breakout, indicates a movement of unusual amplitude for the stock. The gap also widens with the moving averages: the MM50 is at €38.65 and the MM200 at €32.92, respectively 17% and 38% below the current price. The RSI at 58 remains in the neutral zone, indicating that the recent buying pressure has not yet pushed the indicator into overbought territory. The resistance threshold identified at €44.64 was breached during the session; today's intraday record of €45.50 becomes the new reference high. Next key date on the calendar: the general meeting on May 5, 2026.
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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