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 second quarter and the first half of the current year.
In the second quarter, Aperam's net profit decreased by 5.8 percent to $80 million, while the company's sales revenues amounted to $1.21 billion, remaining stable, both quarter on quarter. Aperam's EBITDA increased by 6.3 percent from the previous quarter to $150 million despite the national truckers' strike in Brazil which temporarily impacted its operations and customers, and increasing import pressure in Europe. In the given quarter, Aperam’s steel shipments declined by 1.7 percent to 508,000 mt compared to the first quarter of this year.
Meanwhile, during the first half of the current year, the company’s net profit increased slightly by 0.6 percent to $165 million, while its sales revenues amounted to $2.43 billion, up 3.6 percent, both compared to the first six months of the previous year. Aperam’s steel shipments increased by 6.3 percent year on year to 1.02 million mt in the given period. The company’s EBITDA decreased by 7.3 percent year on year to $291 million.
Timoteo Di Maulo, CEO of Aperam, stated that, despite the high level of imports in Europe, Aperam remains confident about the fundamentals of the stainless steel market and in particular the growth potential of the Brazilian market. However, the company expects its EBITDA in the third quarter to decrease compared to the second quarter, due to the traditional seasonal slowdown in Europe.