Aperam reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, sales were $1,303 million against $1,053 million a year ago. Adjusted EBITDA was $154 million against $144 million a year ago. EBITDA was $154 million against $133 million a year ago. Operating income was $104 million against $83 million a year ago. Income before taxes was $91 million against $78 million a year ago. Net income was $121 million against $58 million a year ago. Net cash provided by operating activities was $231 million against $163 million a year ago. Purchase of PPE, intangible and biological assets (CAPEX) were $74 million against $39 million a year ago. Diluted earnings per share were $1.29 against $0.70 a year ago.

For the year, sales were $5,051 million against $4,265 million a year ago. Adjusted EBITDA was $629 million against $503 million a year ago. EBITDA was $619 million against $492 million a year ago. Operating income was $447 million against $317 million a year ago. Income before taxes was $398 million against $277 million a year ago. Net income was $361 million against $214 million a year ago. Net cash provided by operating activities was $440 million against $417 million a year ago. Purchase of PPE, intangible and biological assets (CAPEX) were $186 million against $130 million a year ago. Diluted earnings per share were $4.29 against $2.59 a year ago. Net financial debt was $75 million as at December 31, 2017 against $154 million as at December 31, 2016.

EBITDA in first quarter of 2018 is expected to slightly increase compared to EBITDA in fourth quarter of 2017 and net financial debt to be low in first quarter of 2018.

CapEx guidance for the year 2018 is in the range of $220 million to $240 million. This includes current investments for repair and maintenance, safety and environment investment, the CapEx dedicated to the transformation programs as well as the 2018 part of the CapEx of the new investment in Genk and in German Service Center. The company continues to expect effective tax rate to be in the range of 20% to 25% as guided previously.