Spanish stainless steel producer Acerinox S.A. has reported a net profit of €373 million for the first nine months of the current year, compared to a net profit of €31 million in the corresponding period of 2020, while its sales revenue came to €4.77 billion, rising by 38 percent year on year. The company also said EBITDA in the first nine months this year amounted to €671 million, 2.7 times higher than in the same period last year. These are the company’s second-best results for the January-September period in its history.
According to the company’s statement, these results are driven by the strong performance of the US market. All of the Acerinox Group’s business units are achieving positive results, though the improvement seen in Acerinox Europa is being limited by the rise in energy costs.
In the first nine months this year, the company’s total steel production increased by 26 percent year on year to 1.99 million mt.
According to its statement, the company estimates that its EBITDA will improve slightly in the fourth quarter, due to strong demand and low inventory levels.