The mining and metallurgical group Eramet posted adjusted revenue of €720m for Q3 2025, down 10%, reflecting a negative price effect (-25%) and an equally unfavorable FX effect (-6%).
These factors largely offset a positive volume effect (+22%), notably driven by sales of manganese ore (+8%) and nickel ore (up 6.7-fold), for which the comparison basis was significantly lower a year earlier.
The group points to logistical difficulties in transporting manganese ore and a "still very uncertain macroeconomic environment that is weighing on demand and sales prices," which is penalizing its cash generation, which remains negative for the period.
Eramet is adjusting its 2025 targets for its manganese ore business, with an estimated volume transported now between 6.1 and 6.3 Mt (down from 6.5 to 7 Mt), and is reducing its 2025 capex plan to between €400m and €425m (down from €400m to €450m).
Eramet, a global mining and metallurgical group, is a key player in the extraction and valorisation of metals (manganese, nickel, mineral sands) and the elaboration and transformation of alloys with a high added value (high-speed steels, high-performance steels, superalloys, aluminium and titanium alloys).
The group supports the energy transition by developing activities with high growth potential. These include lithium extraction and refining, and recycling.
Eramet positions itself as the privileged partner of its customers in sectors that include carbon and stainless steel, aerospace, pigments, energy, and new battery generations.
Building on its operating excellence, the quality of its investments and the expertise of its employees, the group leverages an industrial, managerial and societal model that is virtuous and value-accretive.
Net sales break down by family of products mainly between manganese (70.3%), mineralized sands (10.8%) and nickel (4.8%).
Net sales are distributed geographically as follows: France (1.2%), Europe (26.1%), China (23.7%), Asia (29.1%), South America (13.9%), Africa (3.4%), North America (1.8%), Oceania (0.8%).
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