Eramet reports 4% Q3 turnover growth amid nickel sales decline

Eramet reported an adjusted third-quarter turnover of €746 million, representing a 4% increase compared to the previous year. While pricing contributed a 15% year-over-year lift, lower volumes resulted in a 12% reduction.

Performance varied significantly across commodities. Manganese turnover rose to €482 million from €421 million, and lithium turnover saw a substantial increase to €70 million from €7 million. Conversely, adjusted nickel turnover (excluding SLN) fell to €51 million from €142 million. This decline was driven by an 83% drop in Indonesian nickel ore sales, as mining at PT Weda Bay Nickel was suspended for most of the quarter. Operations at the site resumed in September following the receipt of new permits.

To support its balance sheet, Eramet is proceeding with a planned €500 million rights issue in the fourth quarter. The company has signed subscription undertakings with the French State Shareholding Agency (APE) and Sorame-CEIR. Additionally, the French Financial Markets Authority (AMF) granted the APE a waiver regarding mandatory public offer obligations.