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    ACX   ES0132105018

ACERINOX S.A.

(ACX)
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Delayed Quote. Delayed Bolsas y Mercados Espanoles - 10/15 11:38:00 am
12.145 EUR   +1.93%
09/16Thyssenkrupp sells Italian stainless steel unit to Arvedi
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07/29ACERINOX S.A. : The underlying trend is to the upside
06/21ACERINOX S A : Japan's Nippon Steel Sells 7.9% Acerinox Stake For $259 Million
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Bernardo Velázquez: “A powerful industry is vital for the country's prosperity”

06/17/2020 | 11:02am EDT

Following an introduction by the Chairman of the CEOE, Antonio Garamendi, Velázquez began his speech by sending his condolences to 'the families of those who have passed away from coronavirus' and expressing his gratitude to 'those who have been on the front line during this pandemic'.

The Chief Executive of Acerinox gave his speech during the round table dedicated to the industrial sector, and began by recalling that the regions in which industry makes up a higher proportion of their GDP have better maintained employment and have recovered better than the average after the last crisis'. He also emphasised that the Group's decision-making centres are in Spain; 'it is a privilege to work for a Spanish multinational', he stressed.

He said that 'it is necessary to stimulate the economy in the short term by boosting demand' as well as 'ensuring the competitiveness of the industry and the real economy in the long term'.

Velázquez explained that in 'the industry sector we compete to attract investments and business from other countries, and even within our own business groups', and considered fundamental 'the flexibility of companies to adapt to business cycles'.

Furthermore, he highlighted 'the need to count on young talent, attract young people and promote good vocational training geared to the needs of the industry, with programmes in which industrial companies can participate through dual training'.

To be able to compete and avoid the relocation of production plants, 'we need a competitive energy price, which is one of the burdens of our industry', since the differentiating elements in order to compete are 'our productivity and efficiency' and the 'only local components of our costs are electricity and labour'.

Velázquez also recalled the efforts that the industry is making in Sustainability in general, and offered Acerinox as an example, stating that in its process the company 'emits 30% less CO2 than the sector's global average and shipments from Asia to Spain represent approximately 20% of the emissions of our processes. Simply put, we can say that closing Acerinox in Spain would reduce our emissions as a country but we would be emitting 50% more worldwide'.

Disclaimer

Acerinox SA published this content on 17 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2020 15:01:02 UTC


© Publicnow 2020
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Financials
Sales 2021 6 468 M 7 503 M 7 503 M
Net income 2021 485 M 562 M 562 M
Net Debt 2021 574 M 665 M 665 M
P/E ratio 2021 6,96x
Yield 2021 4,16%
Capitalization 3 285 M 3 810 M 3 810 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,54x
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
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 12,15 €
Average target price 15,49 €
Spread / Average Target 27,5%
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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