Eramet Group has posted EBITDA of €375 million and positive free cash-flow of €226 million in the second half of 2016.

‘These performances are attributable to the contribution of the very large and ambitious cost reduction and productivity improvement plan across the group, the achievement of most of our asset disposals program and an improvement in market conditions at the end of 2016,’ said Patrick Buffet, chairman and CEO of Eramet. ‘The Eramet balance sheet structure has improved considerably. Our net debt to EBITDA ratio has gone from 9.5 at end-2015 to 2.2 at end-2016. Eramet’s recovery in 2016 has only been possible with the commitment of all the teams in the Group.’

The company has also appointed Christel Bories, as group chairman and CEO. ‘I am delighted to join Eramet Group and continue my engagement in industry, a sector with challenges that have always inspired me,’ she said. ‘Eramet has very solid assets which will allow the group to successfully develop: technological and R&D expertise, highly skilled and committed teams, and a stable shareholder structure.’

This story is reprinted from material from Eramet, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.