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 third quarter and the first nine months of 2012. Accordingly, Aperam has posted a net loss for both the third quarter and January-September.
In the third quarter, Aperam registered a net loss of $17 million compared to a net loss of $41 million in the third quarter of 2011. In January-September, the company posted a net loss of $56 million compared to a net loss of $14 million in the same period of the previous year.
Aperam's sales in the third quarter decreased to $1.2 billion, down 20.6 percent year on year, while its steel shipments amounted to 410,000 mt, decreasing by five percent year on year. In the first nine months, sales of the company amounted to $3.96 billion, down 19.2 percent year on year, while steel shipments in this period decreased by 3.33 percent year on year to 1.27 million mt.
Regarding the fourth quarter, Aperam expects its EBITDA to remain at third quarter levels due to uncertain stainless steel market conditions, while net debt is expected to decrease significantly in the quarter in question.