Spanish stainless steel producer Acerinox S.A. has announced its financial and operational results for the first quarter of the current year.
In the given quarter, the company reported a net profit of €53 million, compared to a net loss of €111 million in the fourth quarter of 2023 and down by 61.0 percent year on year, while its net sales amounted to €1.48 billion, decreasing by 17.0 percent quarter on quarter and by three percent year on year. The company also said that its EBITDA in the first quarter this year went down by 51.0 percent compared to the previous quarter and moved up by 15.0 percent from the same period of last year to €111 million.
In the same quarter, Acerinox’s crude steel production decreased by six percent quarter on quarter and by 15.0 percent year on year to 440,000 mt, due to the strike that began at its Los Barrios plant. In the meantime, the company’s hot rolled product output rose by 14.0 percent compared to the previous quarter and declined by 22.0 percent year on year to 32,000 mt, while its cold rolled product production totaled 283,000 mt, down by 14.0 percent quarter on quarter and by nine percent year on year.
According to its statement, Acerinox’s planned $244 million investment at its North American Stainless (NAS) plant in the US will help it to increase its sales by 20.0 percent. The company plans to start production activities at the plant at the end of next year.
