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    ACX   ES0132105018

ACERINOX S.A.

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Acerinox : Bernardo Velázquez participates in the 2019 National Engineering and Business Summit

03/27/2019 | 11:50am EDT

Acerinox Chief Executive Officer, Bernardo Velázquez, participated yesterday in the 2019 National Engineering and Business Summit held at Cajasol Foundation in Seville, taking part of a round table titled 'The new economic horizon and Spain's competitiveness' together with Javier Targhetta (Atlantic Copper), Paulino Fernández (Navantia) and Antonio Joyanes (Cepsa).

Velázquez stressed how companies are obliged to develop their activity in a very globalized world that is hypercompetitive in every aspect.

During his speech, Velázquez explained how in an industrial company like Acerinox 'quality, service, the design of new stainless steel grades and even manufacturing equipment have become commodities' and therefore 'the competitive difference is now made by energy, labor and efficiency'. Regarding energy he declared that 'if we had our factory of Palmones (Algeciras) in France, we would earn 30 million euros more', appealing to those who have to take decisions in this area in order to reduce the cost of energy.

Concerning efficiency, Velázquez explained how Acerinox has oriented itself towards 'searching for an efficient production with the highest optimization degree possible, betting for Digital Transformation as the tool 'to keep being excellent and flexible, advance towards the goal of using less resources and being more respectful with environment and more sustainable'.

'We have been great data collectors. We gather more than 40,000 signals in real time and we only use 2,500 and the proper use of data will help us predicting incidences, improving quality and being more productive and efficient', affirmed Velázquez.

The Chief Executive Officer concluded by assuring that 'until now we had launched the Excellence Plans based on internal benchmarking, what has had great achievements after 10 years of implementation. Furthermore, they have turned out to be pioneer because when we have approached them from the point of view of Digital Transformation it has been evident how everything was related to what we were doing, what will influence production, quality, performance, excellence and efficiency, and with all this we have developed 360Excellence'.

Disclaimer

Acerinox SA published this content on 27 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 March 2019 16:49:10 UTC


© Publicnow 2019
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Sales 2021 6 439 M 7 465 M 7 465 M
Net income 2021 485 M 562 M 562 M
Net Debt 2021 574 M 665 M 665 M
P/E ratio 2021 6,90x
Yield 2021 4,20%
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EV / Sales 2022 0,53x
Nbr of Employees 8 384
Free-Float 73,5%
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Number of Analysts 18
Last Close Price 12,04 €
Average target price 15,49 €
Spread / Average Target 28,6%
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Managers and Directors
Bernardo Velázquez Herreros Chief Executive Officer & Executive Director
Miguel Ferrandis Torres Chief Financial Officer
Rafael Miranda Robredo Independent Chairman
Hans O. Helmrich Chief Operating Officer
George Donald Johnston Independent Director
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