Aperam's financial forecasts for the first quarter of 2026

Aperam has released an update on its guidance for the first quarter of 2026. The company anticipates an increase in adjusted EBITDA compared to the fourth quarter of 2025, when it stood at €67 million. In Europe, despite challenging market conditions, a slight improvement in prices, due to reduced imports, is expected. Brazil experienced weaker seasonal demand, which is, however, expected to increase in the second quarter.

Financial debt is projected to increase due to higher working capital requirements, but a gradual reduction is anticipated by the end of 2026. Geopolitical uncertainties, particularly the war in Iran, continue to generate economic volatility. Nevertheless, Aperam expects to benefit from the Carbon Border Adjustment Mechanism (CBAM) implemented in early 2026.