Spanish stainless steel producer Acerinox S.A. has reported a net profit of €44.5 million for the first nine months of the current year, decreasing by 20.4 percent compared to the same period of 2015, while its net sales came to €2.91 billion, declining by 12.1 percent year on year. The company’s EBITDA in the same period decreased by nine percent year on year to €223 million.
In the January-September period of this year, the company's hot rolled product output totaled 1.66 million mt, up 6.7 percent year on year, while its cold rolled product production totaled 1.27 million mt, rising 4.6 percent compared to the same period of the previous year.
According to Acerinox, its results will remain positive for the final quarter of this year and this will make it possible for the total of the year to exceed the results of 2015. The company is confident that demand will pick up in the first quarter of 2017 allowing an increase in base prices.