Commenting on the group’s annual results 2021, Christel Bories, Eramet group Chair and CEO said: “We achieved excellent results in 2021. They reflect the commitment and agility of our teams who have been able to seize opportunities in a changing environment. These very good performances demonstrate the relevance of our operating model, which strongly generates intrinsic improvements and cash-flow over time.
“We accelerated the deployment of our strategy to refocus on our mining and metallurgical activities which are driving growth. The restart of the lithium project as well as the signature of the Memorandum of Understanding for the divestment of Aubert & Duval are significant milestones. Furthermore, recent developments in the market, marked by the very strong growth in demand for critical metals for the energy transition and the strengthening of environmental and societal requirements, fully confirm the relevance of our strategic decisions.
“We therefore enter this new phase of the Group’s history stronger, with the ambition to become a reference for the responsible transformation of the Earth’s mineral resources for living well together.”
The group’s turnover totalled Euro3,668m in 2021, up significantly by 31% (+35% at constant scope and exchange rates). This growth was mainly driven by Manganese alloys activity (very favourable price environment combined with an improved product mix), as well as excellent operational performances in the manganese ore business (+21% in volumes produced, +9% in volumes sold) and trading activity for nickel ferroalloys produced in Weda Bay.
Group EBITDA totalled Euro1,051m, up very significantly (x2) compared to 2020, notably reflecting:
- An impact of external factors of Euro437m, including positive price effects of Euro394m for manganese alloys and Euro227m for nickel, partially offset by Euro-278m in cost increases, notably linked to freight
- Intrinsic performance of Euro164m for activities of the new scope, including Euro111m linked to the growth in external manganese ore sales
- A negative impact of Euro-66m linked to SLN, whose performance was impacted by exceptional external disruptions in New Caledonia.
