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    ACX   ES0132105018

ACERINOX S.A.

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Acerinox : reports profits of €221 million for the first three quarters, 40% up on the same period in 2017

10/26/2018 | 03:07am EDT

Posted EBITDA for the first nine months of the year exceeds the figure for the first three quarters of the previous year by 14.1%, reaching €422 million against €370 million for that earlier period.

The third quarter of 2018 closed with profits of €83 million (4% higher than the €80 million for the previous three months), 13 times those for the same period in 2017.

These figures reflect high demand for stainless steel in the Group's main markets, especially the United States.

In terms of output, increases of 1.9% in production of steel and 5.7% in cold rolling were recorded between January and September, along with a slight fall of 0.5% in hot rolling in comparison with the same months in 2017.

Acerinox Europa expands its range of products with new thicknesses

In March Acerinox began testing for the new AP-5 annealing and pickling line at Acerinox Europa (Campo de Gibraltar, Spain), a line which incorporates highly advanced technological systems and a level of competitiveness that will reach new standards of quality while reducing costs and environmental impact.

The start-up of the new lines is proceeding very satisfactorily.

With the new line Acerinox Europa will expand its range to offer slimmer thicknesses (1500 mm wide) to its final customers.

In addition, in August and September, Acerinox Europa's AP-3 annealing and pickling line was comprehensively upgraded to specialise in higher thicknesses, complementing the previous AP-5 line and equipping it with a pickling system providing a level of quality similar to that of the new line.

Disclaimer

Acerinox SA published this content on 26 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2018 07:06:07 UTC


© Publicnow 2018
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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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