Acerinox earnings rise 15% in 2016 on ‘stronger market conditions’

Spanish stainless steel producer Acerinox showed a 14.97% increase in earnings year-on-year in 2016, following a “gradual improvement of market conditions in both the USA and Europe”, it has said.

The group’s earnings before, interest, taxes, depreciation and amortisation (Ebitda) rose to €329.07 million ($348.61 million), from €286.23 million ($303.23 million) in 2015, Acerinox said late on Tuesday February 28.
The group’s Ebitda for October-December 2016 was €106.04 million ($112.34 million), compared with €41.10 million ($43.54 million) in the corresponding period in 2015.
Acerinox’s 2016 fourth-quarter earnings were also a slight improvement on its July-September 2016 Ebitda of €103.30 million ($109.44 million).

Acerinox reported profit after taxes and minority interests of €80.32 million ($85.09 million) in 2016, up by 87.27% year-on-year from €42.89 million...

Published

Viral Shah

March 01, 2017

15:12 GMT

London