Aperam: steelmaker flags higher energy costs to hit earnings by ~€20m/qtr
Shares in Aperam fell around 4% after the steelmaker warned higher energy costs would weigh on its earnings by about €20 million ($22.46 million) per quarter. JPMorgan noted Aperam is the first European steelmaker to formally flag energy costs will bite into profits, but expects it to be a recurring theme also for its peers.
46 million) per quarter. JPMorgan said Aperam is the first European steelmaker to formally warn that energy costs will hit profits, though it expects the issue to become a recurring theme for peers. The company reaffirmed third-quarter guidance for core profit slightly above €90 million. Oddo BHF said the expected energy-cost drag is bigger than it had anticipated and above Aperam's previous indications.
9% year to date, LSEG data showed, and it traded at the bottom of France's SBF 120 Index and Belgium's BEL 20 Index. 8906 euros)