Aperam posts earnings miss on weak seasonal demand in Europe

Aperam SA

Yesterday 06:41

Nov 6 (Reuters) - European stainless steel producer Aperam APAM.AS reported worse-than-expected third-quarter core earnings on Friday, as demand in Europe and prices of stainless and electrical steel failed to pick up.
Low steel prices in Europe, weighed down by cheap Asian imports, had pushed Aperam to diversify out of the continent at the start of the decade. That has come at a cost, as the company now stands to benefit less from the EU measures to defend local steel production.
Adjusted core earnings were €105 million ($118 million) in the quarter, while analysts polled by LSEG had forecast €111.4 million on average
They were lower quarter-on-quarter due to a typical seasonal slowdown in key markets, Aperam said
The company said European seasonality led to lower activity across three of its four divisions
Aperam shares have fallen about 3% since the start of 2026
Spanish peer Acerinox ACX.MC also recently warned of a protracted recovery for the European stainless steel market into early 2027
($1 = 0.8930 euros)

(Reporting by Javi West Larrañaga in Gdansk, editing by Milla Nissi-Prussak)
((Javier.West@thomsonreuters.com; +34 918 35 61 12;))