Highlights
Health and Safety: LTI frequency rate2 of 1.4x in 2016 compared to 1.0x in 2015.
Steel Shipments of 1,917 thousand tonnes in 2016, a 2% increase compared to steel shipments of 1,886 thousand tonnes in 2015.
EBITDA3 of USD 492 million, including a non-recurring charge of USD 11 million, in 2016, compared to EBITDA of USD 501 million in 2015.
EBITDA of USD 133 million, including a non-recurring charge of USD 11 million, in Q4 2016, compared to EBITDA of USD 124 million in Q3 2016.
Net income of USD 214 million in 2016, compared to net income of USD 172 million in 2015.
Basic earnings per share of USD 2.75 in 2016, compared to Basic earnings per share of USD 2.21 in 2015.
Cash flow from operations amounted to USD 417 million in 2016, compared to USD 392 million in 2015.
Free cash flow before dividend4 of USD 288 million in 2016, compared to free cash flow before dividend of USD 266 million in 2015.
Net debt5 of USD 154 million as of December 31, 2016, representing a gearing6 of 6% compared to a net debt of USD 316 million as of December 31, 2015, representing a gearing of 14%.
Aperam (referred to as “Aperam” or the “Company”) (Amsterdam, Luxembourg, Paris: APAM and NYRS: APEMY), announced today results for the three months and full year periods ending December 31, 2016
Timoteo Di Maulo, CEO of Aperam, commented:
“In 2016, Aperam achieved record financial results since the spin-off, with net income of USD 214 million and free cash flow before dividend of USD 288 million. This highlights the strong execution of our Leadership Journey®7 and Top Line strategy, reaching a solid balance sheet.
Looking ahead, we remain confident in the ability of Aperam to continue to improve its sustainable financial performance and its solid cash generation.
Therefore, we are pleased to announce a base dividend increase to USD 1.50 per share (subject to shareholder approval) as well as a share buyback program of up to USD 100 million.”
Prospects
EBITDA in Q1 2017 is expected to increase compared to EBITDA in Q4 2016.
Net debt to increase in Q1 2017.
Financial Policy - Cash Deployment
In coherence to its Financial Policy, Aperam is announcing 2 major actions regarding cash deployment:
Aperam increases its base dividend from USD 1.25 per share to USD 1.50 per share (subject to AGM approval).
Aperam announces a share buyback program of up to USD 100 million.