Aperam announced results for the three and twelve month periods ending December 31, 2011

Shipments of 1,749,000 tonnes in full year 2011, flat compared to shipments of 1,741,000 tonnes in full year 2010

EBITDA of USD 356 million in full year 2011, compared to USD 410 million in full year 2010. A charge of USD 36 million relating to the implementation of the "Leadership Journey"iv was recorded within the EBITDA of Q1 2011.

Basic earnings per share of USD (0.76) in 2011

Cash inflows from operations amounted to USD 189 million in 2011

Net debt of USD 878 million at December 31, 2011, representing a gearing of 25%

Mr Philippe Darmayan CEO of Aperam said “Despite a more difficult environment than anticipated, Aperam has been able to maintain a comparable performance in Q4 2011 to Q3 2011 and to reduce debt levels significantly. Since the beginning of the year, we have started to see the signs of a rebound in the business but we continue to remain cautious considering the global economic uncertainty for 2012. Finally, we welcome recent steps towards industry consolidation and we believe that Aperam is well positioned to benefit from it.”