Eramet Reports 13% Revenue Growth in Q1 2026, Driven by Lithium and Manganese
Event summary
- Eramet's Q1 2026 revenue rose 13% YoY to €840m, driven by a 15% volume/mix effect and a 7% price effect, offset by a 9% currency effect.
- Lithium production at Centenario reached 80% of nameplate capacity in March, contributing significantly to revenue.
- PT Weda Bay Nickel's nickel ore sales surged 54% YoY, but the mine may enter care and maintenance pending permit revisions.
- A fire at Eramet Grande Côte's mineral sands unit in Senegal led to a 42% drop in turnover for the segment.
- Eramet secured a waiver on June and December 2026 gearing covenants and plans a €500m capital increase in H2 2026.
The big picture
Eramet's strong Q1 2026 performance highlights the strategic importance of its lithium and manganese operations amid volatile commodity markets. The company's ability to navigate regulatory hurdles in Indonesia and operational challenges in Senegal will be critical to sustaining momentum. The planned capital increase reflects broader efforts to strengthen its balance sheet in an uncertain economic environment.
What we're watching
- Permit Uncertainty
- Whether PT Weda Bay Nickel can secure an upward revision of its RKAB permit to avoid care and maintenance, which would impact nickel ore supply.
- Lithium Ramp-Up
- The pace at which Eramet can reach 100% capacity at its Centenario lithium plant and its plans for future expansion.
- Capital Increase
- How Eramet will execute its €500m capital increase and whether it can secure support from potential investors.
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