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 fourth quarter and the full year 2012.
In the fourth quarter, Aperam registered a net loss of $52 million compared to a net loss of $46 million in the same quarter of 2011. In 2012, the company posted a net loss of $108 million compared to a net loss of $60 million in the previous year.
Aperam's sales in the fourth quarter increased to $1.29 billion, up seven percent year on year, while its steel shipments amounted to 407,000 mt, remaining almost flat compared to the corresponding quarter of 2011. In 2012, sales of the company amounted to $5.26 billion, down 17.08 percent year on year, while steel shipments in this period decreased by almost four percent year on year to 1.68 million mt.
Philippe Darmayan, CEO of Aperam, said that for the upcoming period the company continues to remain cautious considering the current general environment and industry volatility despite some positive signs of market improvement.