Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the third quarter and the first nine months of this year.
In the third quarter, the company reported a net loss of €21 million, compared to a net profit of €19 million in the previous quarter and €179 million in the same quarter of the previous year, while its sales revenues amounted to €1.41 billion, falling by 14.7 percent quarter on quarter and by 5.6 percent year on year, mainly due to the holiday period and continued market weakness. Moreover, Aperam’s adjusted EBITDA fell by 33.9 percent from the second quarter and by 25.2 percent year on year to €74 million. In addition, the company’s steel shipments decreased by 4.1 percent quarter on quarter and were down by 8.1 percent year on year to 567,000 mt.
Meanwhile, during the January-September period this year, Aperam’s net loss amounted to €20 million, compared to a net profit of €219 million in the first nine months of the previous year, while its sales revenues fell by 1.3 percent year on year to €4.72 billion. Additionally, the company’s adjusted EBITDA increased by 13.3 percent to €272 million, while its steel shipments moved down by 2.9 percent to 1.73 million mt, both on year-on-year basis.
