Aperam S.A. (APAM) Q1 2026 TU earnings summary
Event summary combining transcript, slides, and related documents.
Q1 2026 TU earnings summary
2 Apr, 2026Executive summary
Q1 2026 adjusted EBITDA is expected to increase from Q4 2025’s €67m, with consensus at €89m for Q1 2026.
H1 2026 EBITDA run-rate guidance remains at €200m, despite recent energy cost increases.
Geopolitical instability, notably the Iran war, is creating a volatile demand environment.
Leadership Journey Phase 5 goals were achieved early; Phase 6 launched in 2026, targeting €150m gains by 2028.
Financial highlights
Adjusted EBITDA for Q1 2026 is forecasted to rise compared to Q4 2025.
Financial debt is expected to increase in Q1 and Q2 due to working capital needs, with deleveraging targeted by year-end.
Outlook and guidance
Q1 2026 adjusted EBITDA consensus stands at €89m; H1 2026 run-rate guidance of €200m remains valid.
Guidance assumes stable commodity prices.
Latest events from Aperam S.A.
- Q2 2026 saw record EBITDA and net income, with all segments contributing and debt reduced.APAM
Q2 2026 - Q2 2026 saw record EBITDA, strong net income, and reduced debt, with all segments contributing.APAMQ2 2026 (Q&A)
- Q1 2026 delivered strong shipment and EBITDA growth; 2028 EBITDA guidance at EUR 700–800m.APAMQ1 2026 (Q&A)
- Q1 2026 saw record growth in shipments, sales, and EBITDA, with a strong outlook for Q2.APAMQ1 2026
- Seasonal recovery and trade measures shape 2026 outlook, with EBITDA guided at €700–800 million.APAMQ4 2025 (Q&A)
- Strong cash flow, lower net debt, and strategic investments support future growth.APAMQ4 2025
- Profitability rebounded in Q2 2024 as cost actions and market normalization drove strong cash flow.APAMQ2 2024
- Profitability and free cash flow improved in Q2 2024, with net debt reduced and EBITDA up.APAMQ2 2024 (Q&A)
- Profitability rose in 2024, with US expansion, Alloys growth, and strong ESG ratings.APAMQ4 2024 (Q&A)