Aperam shares, 3rd largest decline in the SBF 120 after its results
The stainless steel producer closes lower on the day of its quarterly results release. The figures show a year-on-year improvement but a decline compared with spring, and sales disappoint. The stock ends up near the bottom of the broader index, already heavily tested in recent weeks.
Earnings up year-on-year but below expectations
The Aperam share Aperam loses 3.5% to €33.12 at the close, ranking third among the largest decliners in the SBF 120, after the publication of its third-quarter results. Adjusted EBITDA rises to €105 million from €74 million a year earlier, with a margin of 7.0%, i.e. 1.8 points higher.
Compared with the second quarter, it falls by €130 million to €105 million, while deliveries decline by 10.9% to 540,000 tonnes, which the group attributes to the seasonal slowdown.
Revenue of €1,510 million and earnings per share of €0.09 remain below expectations of €1.58 billion and €0.39. Net profit comes to €7 million, after €116 million in the previous quarter.
A stock already below its moving averages before the release
Today's decline extends an already heavy slide: the stock has lost 22.25% in one month and 29.65% over three months. It has just broken below its lowest level of the last 150 sessions, at €34.06, now a resistance, and trades 23.19% below its 200-day moving average (MM200).
The RSI at 29 reflects an oversold configuration, with no predictive value. The room for manoeuvre now lies around the €30.62 support, the closest technical level in the day's data.
