Financial figures

High current operating income for 2018, at €581m, driven by a favourable price environment

In 2018, Eramet posted strong results for the second consecutive year, particularly owing to a favourable price environment. The Group has achieved new production records in its mining operations, taken full control of TiZir, reduced the number of workplace accidents and launched a number of initiatives to improve its operating performance and its commitment as a responsible corporate citizen.

Turnover since 2012 (in € millions)

Eramet's sales are up 5% over 2018 to €3,825m in a context of rising metal prices and favourable markets for mineral sands.

Key Results

Turnover distribution by division

Manganese BU sales grew 2% to €1,857m in 2018 versus 2017, driven by global production for carbon steel, the main end-product for manganese, which achieved a new historic record in 2018. Nickel BU sales amounted to €738m, up 15% versus 2017, driven mainly by the rise in nickel prices and growth in exported ore volumes. Sales for the High-Performance Alloys division were down 6% at €1,020m, reflecting contrasting business trends.

Turnover distribution by division

Current operating income (in € millions)

The Group’s high current operating income is at €581m, with contrasting performances by activity notably production difficulties in Nickel activity, and an unfavourable market environment in the main sectors of the High Performance Alloys division.

adjusted operating profit

Industrial capex (in € millions)

Capex remained moderate at €281m in 2018.

Industrial investments

Net income (group share) (in € millions)

Net income - Group share is at €53m, including a non-current provision of €65m to factor in the overall cost of the quality process review within the High Performance Alloys division.

Net income

Consolidated net cash position (in € millions)

Net debt stood at €717m at 31 December 2018, corresponding to a gearing of 38%, versus €376m at end-2017.Financial debt

Read Eramet’s 2018 full-year results press release of 02/20/2019

Read Eramet’s 2018 full-year results presentation of 02/21/2019

Read Eramet’s 2018 full-year results webcast of 02/21/2019

NB: Consolidated data for the Group and by Division is adjusted data resulting from the Group’s reporting, with joint ventures accounted for on a proportional consolidation basis.