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 fourth quarter and the full year of 2013.
In the fourth quarter, Aperam registered a net loss of $42 million, compared to a net loss of $53 million in the same quarter of 2013. In the given quarter this year, the company's sales amounted to $1.3 billion, down one percent, while steel shipments improved by 8.3 percent to 441,000 mt, both year on year. Aperam's EBITDA increased to $84 million from $43 million in the same period of the previous year.
In 2013, Aperam recorded a net loss of $100 million, compared to net loss of $111 million in 2012, the company's sales amounted to $5.12 billion, decreasing by 2.7 percent year on year, while steel shipments saw an increase of 2.6 percent to 1.72 million mt compared to the previous year. Aperam's EBITDA increased to $292 million in 2013, up from $217 million in 2012.
"In 2013, despite the deterioration of market conditions, we were able to improve our profitability and reduce our net debt level. Looking ahead, we continue to remain cautious considering the global economic uncertainty for 2014," commented Philippe Darmayan, CEO of Aperam.