Luxembourg-headquartered global stainless steel producer Aperam SA, which was spun off by ArcelorMittal and separately listed in 2011, has announced its financial results for the first quarter of the current year.
In the first quarter, Aperam's net profit increased by 16.6 percent to $49 million, while its sales amounted to $1.07 billion, falling 14.46 percent, both year on year. In the given period, steel shipments rose by 2.9 percent year on year to 483,000 mt compared to the first quarter of the previous year. Aperam's EBITDA declined to $112 million, falling by 15.8 percent year on year.
In the second quarter, Aperam expects its EBITDA to increase slightly compared to the first quarter, while it also expects to reduce its debt.