Aperam falls on weak Q3 outlook

Aperam SA

31/07/2025 09:07

** Shares in Aperam APAM.AS fall 5.2%, after falling as much as 8.5%, as the group provided a weak Q3 outlook and downside risk to 2025 consensus estimates

** The group expects Q3 2025 adjusted EBITDA at a lower level versus Q2 2025

** J.P. Morgan says that while Q2 results were resilient, European demand is weak, with management stating that "demand remains persistently depressed" leading to pricing pressure

** JPM highlights that Q3 earnings guidance points to a sequential decline, with the first-half performance implying a potential mid-single-digit downside to full-year 2025 forecasts

** H125 run rate implies annual EBITDA of around 396-422 million euros, which is ~7% below consensus 439 million euros  ($502.35 million) - JPM

** Share on track for its worst day since April 30, when it closed 7.0% lower

($1 = 0.8739 euros)

 (Reporting by Anna Peverieri)

 ((Anna.Peverieri@thomsonreuters.com))