Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the second quarter and the first half of this year.
In the second quarter, Aperam reported a net profit of €317 million, compared to a net profit of €187 million in the previous quarter and a net profit of €213 million in the second quarter of the previous year. In the given quarter, the company’s sales revenues amounted to €2.46 billion, rising by eight percent quarter on quarter and by 93.1 percent compared to the same period of the previous year. Aperam’s EBITDA increased by 10.7 percent from the previous quarter and by 53.4 percent year on year to €402 million. In the given quarter, Aperam’s steel shipments declined by six percent quarter on quarter and were up by 32.0 percent year on year to 635,000 mt, as buyers were cautious as regards purchases after the nickel crisis and inventory declines in Europe.
Meanwhile, during the first half of this year, the company’s net profit amounted to €504 million, compared to €329 million in the first half of the previous year, while its sales revenues rose by 92.8 percent year on year to €4.72 billion. In the given period, Aperam’s EBITDA increased by 75.0 percent to €765 million, while its steel shipments moved up by 34.3 percent year to 1.31 million mt, all compared to the first half of 2021.
“We achieved the sixth consecutive set of record results despite an increasingly challenging market environment. While Brazil is stable at a high level, adverse market conditions have increased in Europe. Our focus on cash enabled us to reduce debt in Q2, ahead of the curve. We expect more positive cash flow over the coming quarters coherent with the market development,” Timoteo Di Maulo, CEO of Aperam, stated.