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Acerinox net profit up 25 percent in H1 2011

Tuesday, 02 August 2011 10:21:42 (GMT+2)   -  

Tags: longs , flats , stainless , Spain , Europe , production , steelmaking , European Union , Mediterranean | similar articles » SteelOrbis News

On July 29 Madrid, Spain-based stainless steel producer Acerinox posted the group's H1 2011 financial results. According to the figures provided, the net profit of the company reached €102 million, increasing by 25.2 percent year-on-year, which is the best half-year result since 2008.

In the first six months of current year, Acerinox sales revenue reached €2.56 billion, with a growth of 17.9 percent compared to the same period last year, while EBITDA amounted to €257.39 million (or 10.1 percent of sales revenue) thanks to a 21.1 percent increase.

On the production side, in H1 2011 Acerinox' output reached 1.063 million mt of crude steel (-2,8 percent), 938,000 mt of hot rolled flat products (-1,38 percent), 654.300 mt of cold rolled flat products (-4,66 percent) and 103.200 mt of hot rolled long products (-1.8 percent).

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