Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the third quarter and the first nine months of this year.
In the third quarter, Aperam reported a net loss of €42 million, compared to a net profit of €43 million in the previous quarter and a net profit of €121 million in the third quarter of the previous year. In the given quarter, the company’s sales revenues amounted to €1.46 billion, falling by 14 percent quarter on quarter and decreasing by 19.5 percent compared to the same period of the previous year. Aperam’s EBITDA decreased by 81.5 percent from the previous quarter and was down by 91.9 percent year on year to €19 million. Production disruptions caused Aperam’s lowest-ever quarterly EBITDA.
In the given quarter, Aperam’s steel shipments declined by 6.2 percent quarter on quarter and were up by 1.5 percent year on year to 516,000 mt, due to persistent low demand in Europe.
Meanwhile, during the January-September period this year, the company’s net profit amounted to €133 million, compared to €625 million in the first nine months of the previous year, while its sales revenues fell by 22.9 percent year on year to €5.04 billion. In the given period, Aperam’s EBITDA decreased by 75.1 percent to €249 million, while its steel shipments moved down by 8.7 percent year to 1.65 million mt, all compared to the first nine months of 2022.