Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the fourth quarter and the full year of 2020.
In the fourth quarter, Aperam reported a net profit of €101 million, increasing by 320.8 percent quarter on quarter and increasing by 248.3 percent year on year, while the company’s sales revenues amounted to €916 million, up 8.9 percent quarter on quarter and down 8.4 percent compared to the same period of the previous year. Aperam’s EBITDA increased by 144.6 percent from the previous quarter and was up by 55.8 percent year on year to €159 million, due to higher capacity utilization in Europe paired with slightly higher prices. In the given quarter, Aperam’s steel shipments declined by 0.2 percent to 431,000 mt compared to the third quarter of last year. Volumes in Europe picked up seasonally while they decreased seasonally in Brazil.
Meanwhile, in 2020, the company’s net profit increased by 18.2 percent to €175 million, while its sales revenues amounted to €3.62 billion, down 14.5 percent, both compared to 2019, mainly due to lower shipments and lower prices. In 2020 overall, the company’s EBITDA declined by 3.9 percent year on year to €343 million. In the same year, Aperam’s steel shipments dropped by 6.1 percent year on year to 1.68 million mt.
Aperam CEO Timoteo Di Maulo stated that the economic improvement in Europe enabled the company to achieve the best fourth quarter result since the 2017 peak despite still challenging market conditions. Aperam said it expects its adjusted EBITDA to slightly increase in the first quarter of 2021 compared to the fourth quarter last year.