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егамет Paris , July 28 2021 , 6:15 p.m. PRESS RELEASE Eramet : Strong increase in first - half results • • Strong increase in Group EBITDA to € 293m in H1 2021 , including intrinsic progress of more than € 110m Positive Free Cash - Flow ( " FCF " ) of € 111m ; reduction in net debt to € 1.2bn at 30 June 2021 Net income , Group share at € 53m Stable manganese ore prices . Favourable price environment for manganese alloys and nickel , partly offset by the strong increase in freight prices and the negative currency impact First - half well oriented with a good operating performance : о Continued organic growth in manganese ore production in Gabon ( + 13 % ) , and favourable change in the manganese alloys mix in favour of refined products Excellent performance of Weda Bay Nickel¹ : nearly 7 Mwmt of nickel ore produced , with an acceleration in growth dynamics and a contribution of € 70m to Group FCF Mining production low season accentuated by particularly unfavourable weather conditions in New Caledonia Continued adaptation of the High - Performance Alloys division to the aerospace market environment which is still depressed . EBITDA improvement : significantly reduced loss versus H1 2020 Validation of the commitment to reduce CO2 emissions by 40 % for 2035 Outlook : ○ Mining production targets maintained in Gabon and New Caledonia , with a considerably more favourable seasonality in H2 , and revised upwards for Weda Bay Nickel Forecast EBITDA over the year revised up : considering a particularly favourable price environment for manganese alloys and a revised consensus for 2021 of average manganese ore ( CIF China 44 % ) prices at $ 5.01 / dmtu and LME nickel prices at $ 7.9 / lb² , forecast EBITDA would be more than € 850m Christel Bories , Eramet group Chair and CEO : « We achieved a promising first half - year , driven by good operating performance and an overall high price environment . We remained focused on cash generation and , thanks to progress made in all our businesses , our debt decreased at end - June . These results show that the Group's transformation started four years ago is delivering success : our business fundamentals are improving and our strategic roadmap is progressing and is consistent with a strong environmental , social and societal commitment addressing global as well as local challenges . On - site , employees are bringing about change by combining performance and the positive contribution of our activities to surrounding communities . Building on this momentum , we enter with confidence the second semester with very good prospects , both in terms of results and cash generation . >> 1 Eramet holds a 43 % stake in Strand Minerals Pte Ltd , the holding owning 90 % of PT Weda Bay Nickel , which is booked in the Group's consolidated financial statements under the equity method . 2 Compared to a consensus for 2021 of average manganese ore prices at $ 4.5 / dmtu and LME nickel prices at $ 7.5 / lb in February 2021 . Head office 10 , Boulevard de Grenelle - CS 63205 - 75015 Paris - eramet.com