Luxembourg-headquartered global stainless steel producer Aperam SA, which was spun off by ArcelorMittal and separately listed in 2011, has announced its financial results for the first quarter of the current year.
In the first quarter, Aperam's net profit more than doubled to $42 million, compared to a net profit of $19 million in the corresponding quarter of 2014. In the given period, the company's sales amounted to $1.25 billion, falling 10.3 percent year on year, while steel shipments decreased by 1.26 percent year on year to 469,000 mt compared to the first quarter of the previous year. Aperam's EBITDA increased to $133 million, rising by 3.1 percent year on year.
"Looking forward, despite uncertainties regarding the current economic environment and the nickel price, we are convinced that we will continue to deliver a solid set of performance," said Philippe Darmayan, CEO of Aperam.