Spain's Acerinox reports 39% fall in Q1 earnings

Spanish stainless steel producer Acerinox reported a 39% year-on-year decrease in earnings in the first quarter of 2018 in a financial statement published on Friday April 27.

Earnings before, interest, taxes, depreciation and amortization (Ebitda) dropped to €118 million ($143.01 million) in January-March. This was “lower than in the same period of the previous year, when [Ebitda] was boosted by sharp increases in [the costs of] raw materials,” Acerinox said.
Ebitda was €191.24 million in the first quarter of 2017.
The company’s net sales for January-March 2018 came to €1.25 billion, up by 0.1% year-on-year.

The company’s total production of crude stainless steel was 668,076 tonnes in January-March 2017, up by 0.1% from the previous year. Output of cold-rolled steel, driven...

Published

Maria Tanatar

April 30, 2018

20:18 GMT

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