Spanish stainless steel producer Acerinox S.A. has reported a net profit of €572 million for 2021, compared to a net profit of €49 million in 2020, while its sales revenue came to €6.70 billion, rising by 43.6 percent year on year. The company also said EBITDA in the full year amounted to €989 million, compared to EBITDA of €384 million last year. These are the company’s best-ever annual results, driven by a general improvement in the market, active cost control management, increased efficiencies and improved margins.
In 2021, the company’s total steel production increased by 19 percent year on year to 2.6 million mt.
“The good demand outlook, lower import pressures in the main markets due to high shipping costs and trade defence measures, low inventory levels and improved prices enable us to be optimistic for the first half of 2022,” Bernardo Velázquez, CEO of Acerinox, said.
According to its statement, the company estimates that its EBITDA will improve in the first quarter this year, due to low inventory levels and improved prices.
