• Very good operational performance of mining activities:
  • +17% of manganese ore produced in Gabon (vs. Q1 2021), +16% of volumes sold externally
  • +10% of nickel ore produced in New Caledonia, +46% of exported volumes o +74% of nickel ore produced in Indonesia
  • +16% of mineral sands produced in Senegal

  • Particularly favourable price environment, in a context of strong supply tension in all of Eramet’s markets, accentuated by the war in Ukraine

  • Turnover of €1.2bn in Q1 2022 in the new Eramet scope1, up by nearly 80% from Q1 2021, including a price effect of +64%, and a currency effect2 of +10%.

  • 2022 Outlook:

  • Export and production volume targets confirmed
  • Consensus for current manganese ore prices at $5.6/dmtu (CIFChina44%) and LME nickel prices at $26,400/t3; invoiced selling prices for manganese alloys expected to be above 2021 on average for the year
  • Impact of higher selling prices expected to be partially offset by the strong increase in input costs, particularly freight, energy and metallurgical coke
  • Based on the consensus of the abovementioned price forecasts, forecast EBITDA revised upwards to more than €1.5bn4 in 2022 (vs. approximately €1.2bn initially)
  • The very uncertain geopolitical and health context could however weigh on demand, notably in H2

Christel BORIES

 

Eramet group Chair and CEO

Refocused on its Mining and Metals activities which are delivering growth, Eramet achieved good operational performances in the first quarter, with an increase in production levels. In an unstable geopolitical context, the prices of our metals experienced very strong variations and our turnover significantly increased.
We remain attentive to developments in our markets and to the control of our costs and supplies and we are carrying on with our highly promising projects in strategic metals for the energy transition