)
Visual21 Nov 2025
Data center suppliers
Aperam S.A. (APAM) investor relations material
Aperam S.A. Q3 2025 (Q&A) earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 (Q&A) earnings summary7 Nov, 2025
Executive summary
CEO Timoteo Di Maulo hosted his final quarterly call, expressing pride in the company's resilience and confirming continued involvement as a board member and advisor, with Sudhakar Sivaji appointed as next CEO effective January 1, 2026.
Q3 2025 results reflect seasonality and ongoing pricing pressure in Europe, with volumes and sales down, but solid demand in Brazil partially offsetting declines.
Alloys segment impacted by summer shutdowns; Universal integration progressing with expected EUR 27 million synergies over five years.
Leadership Journey® delivered EUR 29 million in Q3 gains, totaling EUR 165 million in Phase 5 out of a EUR 200 million target.
Strong cash generation and continued deleveraging achieved through efficient working capital management.
Financial highlights
Q3 2025 sales were EUR 1,410 million, down 14.8% quarter-over-quarter and 34% year-over-year; shipments totaled 567 thousand tonnes, down 4% sequentially and 8% year-over-year.
Adjusted EBITDA was EUR 74 million, down 34% sequentially and 31% year-over-year; margin at 5.2%.
Free cash flow reached EUR 138 million, fully covering dividends and supporting net debt reduction to EUR 1,045 million.
Basic EPS was EUR (0.28) in Q3 2025, compared to EUR 0.25 in Q2 2025.
Net financial debt to LTM adjusted EBITDA ratio improved due to deleveraging.
Outlook and guidance
Q4 2025 shipments expected to be seasonally higher, but adjusted EBITDA anticipated to be slightly lower than Q3 due to continued price pressure and softer demand in Brazil.
FY 2025 base dividend maintained at EUR 2.00/share (~EUR 145 million); group capex guidance at ~EUR 170 million.
Leadership Journey® Phase 5 targets over EUR 200 million in cumulative gains by 2026, with EUR 75 million expected in 2025.
Financing costs guided at EUR 15 million per quarter, or EUR 60 million annualized, with a slight increase expected next year due to refinancing.
Effective tax rate for FY 2025 projected at 20-25%, subject to raw material price developments.
Plan to reverse LTI frequency rate increase?
Plan to restore Services & Solutions EBITDA?
New CEO's immediate strategic priorities?
CBAM impact on European mid-cycle margins?
Alloys business performance vs. targets?
Brazil import pressure on stainless products?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Aperam S.A. earnings date
Q4 20256 Feb, 2026
Next Aperam S.A. earnings date
Q4 20256 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Aperam S.A. is a Luxembourg-based company engaged in the production of stainless, electrical, and specialty steel. Catering to a global market, Aperam focuses on delivering high value-added specialty products, including grain-oriented and non-grain-oriented electrical steels, nickel alloys, as well as a variety of stainless steel formats such as tubes, discs, flat bars, coils, and sheets. The company operates through four main segments: Stainless & Electrical Steel, Services & Solutions, Alloys & Specialties, and Recycling & Renewables.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage