Aperam Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Tim Di Maulo

Chief executive officer

€2.6m

Total compensation

CEO salary percentage	32.8%
CEO tenure	9.8yrs
CEO ownership	n/a
Management average tenure	9.9yrs
Board average tenure	4.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Tim Di Maulo's remuneration changed compared to Aperam's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	€289m
Jun 30 2024	n/a	n/a	€68m
Mar 31 2024	n/a	n/a	€52m
Dec 31 2023	€3m	€850k	€203m
Sep 30 2023	n/a	n/a	€133m
Jun 30 2023	n/a	n/a	€296m
Mar 31 2023	n/a	n/a	€570m
Dec 31 2022	€4m	€794k	€625m
Sep 30 2022	n/a	n/a	€1b
Jun 30 2022	n/a	n/a	€1b
Mar 31 2022	n/a	n/a	€1b
Dec 31 2021	€3m	€737k	€968m

Compensation vs Market: Tim's total compensation ($USD2.73M) is above average for companies of similar size in the Austrian market ($USD1.91M).

Compensation vs Earnings: Tim's compensation has been consistent with company performance over the past year.

CEO

Tim Di Maulo (65 yo)

9.8yrs

Tenure

€2,592,000

Compensation

Mr. Timoteo Di Maulo, also known as Tim, is Chief Executive Officer of Aperam S.A. from January 2015. He joined the Aperam S.A. in 2005. He is Chief Commercial & Sourcing Officer of Aperam South America S....

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Timoteo Di Maulo	Chief Executive Officer	9.8yrs	€2.59m	no data
Sudhakar Sivaji	Chief Financial Officer	4.5yrs	no data	no data
Bert Lyssens	Chief Human Resources Officer & Head of Communications	9.6yrs	no data	no data
Vanisha Mittal Bhatia	Chief Strategy Officer	13.6yrs	no data	no data
Guillaume Bazetoux	Head of Finance and M&A and Secretary to the Leadership Team	no data	no data	no data
Frederic Mattei	CEO of Alloys & Specialties and Chief Innovation Officer	10.4yrs	no data	no data
Frederico Lima	CEO and Chief Marketing Officer of Stainless & Electrical Steel South America	9.9yrs	no data	no data
Nicolas Changeur	CEO of Services & Solutions and Chief Marketing Officer for Stainless Europe	10yrs	no data	no data
Jan Hofmann	CEO of Recycling & Renewables and Chief Sustainability Officer	less than a year	no data	no data

9.9yrs

Average Tenure

51yo

Average Age

Experienced Management: APAM's management team is seasoned and experienced (9.9 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Lakshmi Mittal	Chairman	13.9yrs	€70.00k	0.015% € 312.9k
Aditya Mittal	Non-Independent Director	13.9yrs	€70.00k	no data
Roberte Kesteman	Independent Director	2.5yrs	€82.50k	no data
Alain Kinsch	Non-Executive Independent Director	4.5yrs	€87.50k	no data
Sandeep Jalan	Non-Independent Director	4yrs	€70.00k	no data
Rosalind Rivaz	Lead Independent Director	4.5yrs	€85.00k	no data
Bernadette Baudier	Non-Executive Independent Director	5.5yrs	€85.00k	no data

4.5yrs

Average Tenure

63yo

Average Age

Experienced Board: APAM's board of directors are considered experienced (4.5 years average tenure).

Aperam Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

Aperam S.A., Annual General Meeting, May 02, 2023

Aperam S.A., Annual General Meeting, May 04, 2021

Recent updates

Upcoming dividend of €0.42 per share

Aperam S.A. (ENXTAM:APAM) entered into a definitive agreement to acquire Universal Stainless & Alloy Products, Inc. (NasdaqGS:USAP) for approximately $440 million.

Aperam S.A. (ENXTAM:APAM) entered into a definitive agreement to acquire Universal Stainless & Alloy Products, Inc. (NasdaqGS:USAP) for approximately $440 million.

Dividend of €0.42 announced

Upcoming dividend of €0.42 per share

Second quarter 2024 earnings released: EPS: €0.82 (vs €0.60 in 2Q 2023)

New minor risk - Shareholder dilution

Dividend of €0.42 announced

First quarter 2024 earnings released: €0.26 loss per share (vs €1.83 profit in 1Q 2023)

New minor risk - Earnings quality

New major risk - Share price stability

Dividend of €0.42 announced

Upcoming dividend of €0.42 per share

Fourth quarter dividend of €0.42 announced

Full year 2023 earnings released: EPS: €2.81 (vs €8.33 in FY 2022)

Aperam S.A. to Report Q4, 2023 Results on Feb 09, 2024

Insufficient new directors

New minor risk - Earnings quality

Third quarter 2023 earnings released: €0.58 loss per share (vs €1.62 profit in 3Q 2022)

Now 21% undervalued

Upcoming dividend of €0.42 per share at 7.1% yield

Aperam Launches Its New Sustainability Brand for All Its Near-Zero Footprint Premium Products, Related Services and Solutions - Aperam infinite

Aperam Launches Its New Sustainability Brand for All Its Near-Zero Footprint Premium Products, Related Services and Solutions - Aperam infinite

Upcoming dividend of €0.42 per share at 7.2% yield

Second quarter 2023 earnings released: EPS: €0.60 (vs €4.19 in 2Q 2022)

Now 20% undervalued after recent price drop

Upcoming dividend of €0.42 per share at 6.1% yield

First quarter 2023 earnings released: EPS: €1.83 (vs €2.41 in 1Q 2022)

Full year 2022 earnings released: EPS: €8.33 (vs €12.22 in FY 2021)

Upcoming dividend of €0.42 per share at 5.3% yield

Full year 2022 earnings released: EPS: €8.33 (vs €12.22 in FY 2021)

Aperam S.A. to Report Q4, 2022 Results on Feb 10, 2023

Aperam S.A., Annual General Meeting, May 02, 2023

Third quarter 2022 earnings released: EPS: €1.62 (vs €2.52 in 3Q 2021)

Third quarter 2022 earnings released: EPS: €1.62 (vs €2.52 in 3Q 2021)

Upcoming dividend of €0.42 per share

Upcoming dividend of €0.42 per share

Investor sentiment deteriorated over the past week

Acerinox and Aperam Reportedly Studying A Merger

Full year 2021 earnings released: EPS: €12.22 (vs €2.19 in FY 2020)

Upcoming dividend of €0.42 per share

Full year 2021 earnings released: EPS: €12.22 (vs €2.19 in FY 2020)

Investor sentiment deteriorated over the past week

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Aperam S.A. to Report Q3, 2022 Results on Nov 14, 2022

Aperam S.A. (ENXTAM:APAM) completed the acquisition of ELG Haniel GmbH from Franz Haniel & Cie. Gmbh.

Third quarter 2021 earnings released: EPS €2.52 (vs €0.30 in 3Q 2020)

Upcoming dividend of €0.37 per share

Upcoming dividend of €0.37 per share

Second quarter 2021 earnings released: EPS €2.67 (vs €0.26 in 2Q 2020)

First quarter 2021 earnings released: EPS €1.45 (vs €0.36 in 1Q 2020)

Aperam S.A. (ENXTAM:APAM) signed an agreement to acquire ELG Haniel GmbH from Franz Haniel & Cie. Gmbh for an enterprise value of approximately €360 million.

Upcoming dividend of €0.37 per share

Full year 2020 earnings released: EPS €2.19 (vs €1.82 in FY 2019)

Revenue misses expectations

Aperam S.A., Annual General Meeting, May 04, 2021

Full year 2020 earnings released: EPS €2.19 (vs €1.82 in FY 2019)

Revenue misses expectations

New 90-day high: €36.42

New 90-day high: €33.49

Market bids up stock over the past week

New 90-day high: €26.40

Revenue misses expectations

Third quarter 2020 earnings released: EPS €0.30

Aperam S.A. to Report Q3, 2020 Results on Nov 04, 2020

New 90-day low: €23.65

Aperam S.A. to Report Q2, 2020 Results on Jul 29, 2020

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team