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France's Eramet Q3 turnover rises on manganese and lithium gains

By Reuters News


Overview

  • France mining group's Q3 adjusted turnover rose 4% yr/yr to €746 mln

  • Growth driven by higher manganese and lithium activities, offset by sharp nickel decline

  • Company progressing with €500 mln capital increase to strengthen balance sheet


Outlook

  • Eramet expects 2026 adjusted EBITDA between €540 mln and €610 mln

  • Company raises 2026 nickel ore external sales target to 23-26 Mwmt from 9 Mwmt initially

  • 2026 capex forecast confirmed at €250 mln to €290 mln


Result Drivers

  • MANGANESE VOLUMES AND PRICES - Co said higher manganese ore volumes and improved selling prices drove growth, supported by upgrades to the Transgabonese railway

  • LITHIUM RAMP-UP - Co attributed higher lithium turnover to increased production and sales at the Centenario plant in Argentina, despite a maintenance shutdown

  • NICKEL PRODUCTION SUSPENSION - Co said nickel revenue fell sharply due to suspension of Indonesian operations for most of the quarter, with gradual restart in September


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted Turnover

EUR 746 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the diversified mining peer group is "buy."

  • Wall Street's median 12-month price target for Eramet S.A. is €51.00, about 43.6% above its October 28 closing price of €35.52


Reuters Recommended Reads

  • Oct 28 - Rio Tinto doubles down in Argentina with new lithium plants

  • Oct 27 - Freeport tops profit estimates on copper rally as Grasberg recovery continues

  • Oct 28 - Copper miner First Quantum beats Q3 profit estimates on higher production, prices; output guidance narrowed


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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