Acerinox’s production and net profit in the first quarter of 2020 decreased year-on-year and increased sequentially

According to a report released by the stainless steel pipe fittings supplier Acerinox , in the first quarter of 2020, its stainless steel crude steel output fell by approximately 5% year-on-year and increased by approximately 22% quarter-on-quarter to 59.843 million tons, while the production of hot-rolled stainless steel flat products decreased by approximately 3% year-on-year While the chain growth was about 19% to 517,000 tons, the production of cold-rolled stainless steel flat products fell by about 7% year-on-year and the chain growth was about 12% to 393,000 tons, and the production of stainless steel long products (hot rolled) fell by about 14% year-on-year and the chain growth was about 25% to 57,000 tons.

Profits have declined according to Acerinox first quarter report

From this Acerinox first quarter report, the net sales for the quarter fell by approximately 4% year-on-year and increased by approximately 6% quarter-to-quarter to 1.159 billion euros. EBITDA decreased by approximately 6% year-on-year and increased by approximately 15% quarter-to-quarter to 85 million euros. EBIT decreased by approximately 2% year-on-year and increased by 180 million quarter-on-quarter The euro reached 44 million euros, and the net profit attributable to shareholders fell by about 14% year-on-year and increased by 201 million euros to 28 million euros.

The above group performance does not include the performance of the VDM that officially completed the acquisition on March 17, 2020. After entering VDM from March, the group’s net sales increased by approximately 2% year-on-year to 1.229 billion euros, EBITDA increased by approximately 5% year-on-year to 94 million euros, and operating profit increased by approximately 15% year-on-year to 52 million euros. Profits fell by about 7% year-on-year to 30 million euros.