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 first quarter of 2012. Accordingly, Aperam has posted a net loss for the period.
In the given quarter, Aperam registered a net loss of $11 million, compared to a net profit of $25 million in the corresponding period of 2011. Aperam's sales amounted to $1.4 billion, down 16.1 percent compared to the same quarter of the previous year. First quarter shipments declined by 4.2 percent year on year to 433,000 mt, while increasing slightly compared to the previous quarter.
According to Aperam's statement, despite a more difficult environment than anticipated, the company achieved an improved performance in the given quarter compared to the previous quarter, as well as slightly reducing its net debt in the first quarter.