Specialty metals miner Eramet's EBITDA drops 54%, impacted by price and exchange rates

Eramet

18/02/2026 17:56

Overview

France mining company's adjusted EBITDA fell 54% yr/yr amid challenging conditions

Net income was negative, including asset impairments for mineral sands

Company plans strategic asset reviews and equity base strengthening in 2026

Outlook

Eramet targets 2026 manganese ore transport between 6.4 and 6.8 Mt

Company plans €500m equity base strengthening in 2026

Eramet expects 2026 lithium carbonate production between 17 and 20 kt-LCE

Result Drivers

LITHIUM PRODUCTION - Successful ramp-up of lithium production at Centenario in Argentina, achieving 75% of design capacity in December

PERMIT RESTRICTIONS - Performance at PT Weda Bay Nickel impacted by permit restrictions and new site start-ups

CURRENCY AND PRICE IMPACT - Unfavorable price and exchange rate impacts heavily affected manganese operations

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Adjusted Turnover
EUR 3.16 bln
FY Adjusted EBITDA
EUR 372 mln
FY EBITDA
EUR 130 mln
FY Net Debt
EUR 1.94 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the diversified mining peer group is "buy."

Wall Street's median 12-month price target for Eramet SA is €52.00, about 13.9% below its February 18 closing price of €60.40

Press Release: ID:nGNE35KHfJ

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)