Luxembourg-headquartered global stainless steel producer Aperam SA has announced its financial results for the fourth quarter and the full year of 2023.
In the given quarter, Aperam reported a net profit of €70 million, compared to a net loss of €42 million in the third quarter, while its sales revenues amounted to €1.55 billion, rising by six percent quarter on quarter and decreasing by four percent compared to the same period of the previous year. The company’s adjusted EBITDA increased by 189.5 percent from the previous quarter and was down by 57.4 percent year on year to €55 million.
In the fourth quarter, Aperam’s steel shipments moved up by 4.8 percent quarter on quarter and by 9.7 percent year on year to 541,000 mt.
Meanwhile, in the full year, the company’s net profit came to €203 million, compared to €625 million in 2022, while its sales revenues fell by 19.2 percent year on year to €6.59 billion. In the given year, Aperam’s adjusted EBITDA decreased by 73.1 percent from the previous year to €304 million due to a lower sales volume and the cost-price squeeze, while its steel shipments moved down by 4.8 percent year on year to 2.20 million mt as a result of the lower sales volume and lower realized prices.