Acerinox (OTC) ( (ANIOY) ) has released its Q4 earnings. Here is a breakdown of the information Acerinox (OTC) presented to its investors.
Acerinox (OTC) is a global leader in the stainless steel and high-performance alloys industry, known for its diverse product offerings and strategic operations across various international markets.
In its fiscal year 2024 earnings report, Acerinox reported an EBITDA of EUR 500 million, marking a 29% decrease from the previous year. The company completed the acquisition of Haynes International and sold its Bahru Stainless subsidiary, reflecting strategic shifts in its business operations.
Key financial highlights include a revenue of EUR 5,413 million, an 18% decline from 2023, and a net financial debt of EUR 1,120 million, significantly impacted by the Haynes acquisition. The company’s EBITDA margin stood at 9%, with a notable reduction in melting shop production by 10% year-over-year. Strategic initiatives such as the new organizational model at Acerinox Europa and the implementation of the IV Collective Bargaining Agreement were also highlighted.
Looking forward, Acerinox anticipates a recovery in the stainless steel market beginning in March 2025, with expectations of improved demand in the U.S. market due to recent governmental measures. The company remains focused on enhancing its product offerings and operational efficiencies to capitalize on future market opportunities.