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, Aperam reported a net profit of €121 million, compared to a net profit of €317 million in the previous quarter and a net profit of €201 million in the third quarter of the previous year. In the given quarter, the company’s sales revenues amounted to €1.82 billion, falling by 26 percent quarter on quarter and increased by 44.6 percent compared to the same period of the previous year. Aperam’s EBITDA decreased by 41.5 percent from the previous quarter and down by 15.4 percent year on year to €235 million.
In the given quarter, Aperam’s steel shipments declined by 20 percent quarter on quarter and were up by 20.6 percent year on year to 508,000 mt, due to pronounced destocking by customers in Europe.
Meanwhile, during the January-September period this year, the company’s net profit amounted to €625 million, compared to €530 million in the first nine months of the previous year, while its sales revenues rose by 76.4 percent year on year to €6.54 billion. In the given period, Aperam’s EBITDA increased by 39.8 percent to €1 billion, while its steel shipments moved up by 30.1 percent year to 1.81 million mt, all compared to the first nine months of 2021.
“Aperam’s differentiated value chain and stable operations in Brazil enabled us to generate solid results and considerable free cash flow in the third quarter, despite energy challenges in Europe,” Timoteo Di Maulo, CEO of Aperam, stated.