Aperam records net loss in January-March

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 2013.
 
In the first quarter, Aperam registered a net loss of $28 million compared to a net loss of $12 million in the same quarter of 2012. In the given quarter, the company's sales amounted to $1.27 billion, declining 10 percent year on year, while steel shipments decreased by 7.4 percent to 401,000 mt compared to the first quarter of the previous year. Aperam's EBITDA increased to $65 million from $43 million in the previous quarter, while remaining flat compared to the same period of the previous year.
 
Philippe Darmayan, CEO of Aperam, said that the company managed to improve its EBITDA on quarter-on-quarter basis and to keep its level of debt under control despite important industrial and commercial challenges during the first quarter. Aperam expects EBITDA for the second quarter to slightly improve compared to the first quarter and its net debt to remain under control.