Spanish stainless steel producer Acerinox S.A. has reported a net profit of €80.3 million for the full year of 2016, increasing by 87.3 percent compared to 2015, while its net sales came to €3.97 billion, declining six percent year on year. The company’s EBITDA in the same year increased by 15 percent year on year to €329 million.
In 2016, Acerinox’s hot rolled product output came to 2.2 million mt, increasing by 8.3 percent year on year, while the company attained the highest production volume in its history in cold rolled product production with 1.72 million mt, rising 6.6 percent compared to the previous year.
Acerinox stated that, with regard to the new production lines at its Campo de Gibraltar plant in Spain where it is investing €140 million, deadlines and budget are progressing satisfactorily, and the first test rolling is expected to begin by the end of the current year.
The company expects to take advantage of the efficiency improvements achieved in recent years and to obtain results in the first quarter of this year that will significantly improve those of the previous quarter, partly driven by the appreciation of raw materials.