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    ACX   ES0132105018

ACERINOX S.A.

(ACX)
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Acerinox S A : closes 2019 with 364€ million EBITDA

02/28/2020 | 08:20am EDT

Acerinox obtained an adjusted EBITDA of 402 million euros and a cash generation of 231 million euros in what was a complex environment . These results allowed the Group to increase shareholder remuneration by 44 %, up to 184 million euros and reduce net debt (which is now at the lowest level of the last 18 years) by 10 % to 495 million euros.

The result after taxes and minorities, a loss of 60 million euros, was affected by non recurring extraordinary items, with no cashflow effect. The impact of these measures supposed an impact of 236 million euros to the net result which includes the layoffs of Acerinox Europe at the EBITDA level, the impairment of the assets of Bahru, the write off of goodwill in Columbus and the tax credits in the Spanish tax group.

VDM aqcuisition

We have received authorization from the competition authorities of Europe and North America and now the only remaining approval is the that of the Taiwanese authorities to enable us to conclude ( or formalize) the contract to buy VDM metals which we expect in the coming days.

Outlook

The strength of the North American market with low import levels, leads us to be somewhat optimistic ( or leads the Group to be...). Uncertainty remains in the European market , although activity is improving. We trust that the European authorities will impose further anti - dumping and anti - subsidy measures against Taiwan, China and Indonesia.

Disclaimer

Acerinox SA published this content on 28 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2020 13:19:07 UTC


© Publicnow 2020
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Financials
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%
Capitalization 3 256 M 3 775 M 3 775 M
EV / Sales 2021 0,59x
EV / Sales 2022 0,53x
Nbr of Employees 8 384
Free-Float 73,5%
Chart ACERINOX S.A.
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Acerinox S.A. Technical Analysis Chart | ACX | ES0132105018 | MarketScreener
Technical analysis trends ACERINOX S.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 12,04 €
Average target price 15,49 €
Spread / Average Target 28,6%
EPS Revisions
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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