Spanish stainless steel producer Acerinox S.A. has reported a net profit of €203 million for the first half of the current year, compared to a net profit of €2 million in the corresponding half of 2020, while its sales revenue came to €3.06 billion, rising by 32 percent year on year, amid a good performance in terms of both volume and price. The company also said EBITDA in the first half this year amounted to €378 million, 2.3 times higher than in the same period last year. The company achieved its best half-yearly results in the first half this year since the first half of 2007.
In the first half, the company’s total steel production increased by 29 percent year on year to 1.34 million mt. The company’s stainless steel production increased by 28 percent year on year.
According to its statement, the company estimates that its EBITDA will improve in the third quarter, in view of the positive demand situation. Acerinox stated that expected cash generation in the third quarter will enable it to reduce its net financial debt.
