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 whole year of 2018.
In the fourth quarter, Aperam's net profit decreased by 52.4 percent to $49 million, while the company's sales revenues amounted to $1.12 billion, up 1.1 percent, both year on year. Aperam's EBITDA decreased by 30.7 percent from the previous quarter to $90 million. In the fourth quarter, Aperam’s steel shipments declined by 3.03 percent year on year to 480,000 mt.
Meanwhile, in 2018, the company’s net profit declined by 10.6 percent to $286 million, while its sales revenues amounted to $4.67 billion, up 4.4 percent, mainly due to higher stainless steel selling prices, both compared to the previous year. Aperam’s steel shipments increased by 1.86 percent year on year to 1.97 million mt in 2018, while its EBITDA decreased by 8.5 percent year on year to $504 million.
Timoteo Di Maulo, CEO of Aperam, stated that Aperam achieved solid 2018 results despite an extremely challenging market environment in Europe caused by unprecedented import pressure in the wake of ineffective provisional EU safeguard measures.