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 2014.
In 2014, Aperam registered a net profit of $95 million compared to a net loss of $100 million in 2013. In the given period, the company's sales amounted to $5.5 billion, increasing seven percent year on year, while steel shipments increased by 4.9 percent year on year to 1.8 million mt compared to the previous year. Aperam's EBITDA increased to $547 million, rising by 87.3 percent year on year.
"In 2014, despite a historically high level of stainless steel imports in Europe, we were able to return to a positive net result and reduce our net debt level. Looking ahead, our focus remains on the improvement of our operational performance and balance sheet to be in a good position to capture any potential opportunities," commented Philippe Darmayan, CEO of Aperam.