Aperam sees improved net profit in January-June

Thursday, 30 July 2015 17:09:28 (GMT+3)   |   Istanbul
       

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 second quarter and the first half of the current year.
 
In the second quarter, Aperam's net profit increased by 83.3 percent to $66 million, while the company's sales amounted to $1.26 billion, falling 12.5 percent, both year on year. In the given quarter, Aperam’s steel shipments increased by 4.3 percent year on year to 489,000 mt compared to the second quarter of the previous year. Aperam's EBITDA decreased by 5.5 percent year on year to $155 million.
 
During the first half of the current year, the company’s net profit almost doubled to $108 million, while the sales amounted to $2.52 billion, down 11.13 percent, both compared to the first six months of the previous year. Aperam’s steel shipments increased by 1.5 percent year on year to 955,000 mt in the given period. The company’s EBITDA decreased by 1.7 percent year on year to $288 million.
 
"For the remainder of 2015, we are cautious in view of the current economic environment and in particular uncertainties regarding the nickel price evolution. However, we are confident that the ongoing projects will continue to improve our operational agility and efficiency," said Timoteo Di Maulo, CEO of Aperam.


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