Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the second quarter and the first half of the current year.
In the second quarter, Aperam reported a net profit of €59 million, compared to a net loss of €19 million in the first quarter and a net profit of €43 million in the same period last year, while the company’s sales revenues amounted to €1.63 billion, decreasing by 1.2 percent quarter on quarter and by 4.1 percent compared to the same period of the previous year. Aperam’s EBITDA moved up by 56.3 percent from the previous quarter and declined by 16.5 percent year on year to €86 million. In the given quarter, Aperam’s steel shipments declined by 0.3 percent quarter on quarter and were up by six percent compared to same quarter of 2023 to 583,000 mt.
Meanwhile, during the first half of the current year, the company’s net profit amounted to €40 million, compared to €175 million in the first half of the previous year, while its sales revenues amounted to €3.29 billion, down 8.1 percent compared to the first half of 2023. In the given period, the company’s EBITDA fell by 38.7 percent year on year to €141 million, while its steel shipments were up by 2.6 percent year on year to 1.17 million mt.
“After seven extremely challenging quarters, fading destocking finally brought some market improvement to European stainless,” Timoteo Di Maulo, Aperam’s CEO, commented. The company expects its EBITDA for the third quarter to be at a slightly higher level compared to the second quarter.