Spanish stainless steel producer Acerinox S.A. has announced its consolidated financial results for the fourth quarter and the full year of 2024.
In the given quarter, the company reported a net profit of €63 million, compared to a net loss of €119 million recorded in the fourth quarter of 2023, while its sales revenue declined by 13.3 percent year on year to €1.33 billion. In addition, Acerinox’s EBITDA was €150 million, up by 56.3 percent year on year.
In 2024, the company reported a net profit of €225 million, down by one percent year on year, while its sales revenue amounted to €5.41 billion, compared to €6.61 billion recorded in 2023. Also, Acerinox’s EBITDA was €500 million, down by 29.0 percent year on year.
Acerinox expects a recovery in the stainless steel industry as of March this year. Distributors’ inventories are below the average of recent years. Also, it forecasts that the recent measures adopted by the US administration will favor demand in the high-performance alloys market.