Spanish stainless steel producer Acerinox S.A. has announced its financial results for 2023.
In the given year, the company reported a net profit of €228.13 million, down by 60 percent year on year, while its sales revenue amounted to € 6.61 billion, compared to €8.69 billion recorded in 2022. In addition, Acerinox’s EBITDA was €703 million, the fourth-best figure in its history.
According to its statement, the company achieved good results with the help of the improvements in the recent years and the strategic success of the entry into the high-performance alloys sector that has allowed them to reach a new profitability level in an environment where there was a sharp drop in demand.
“2023 was a year of very low activity for the stainless steel market due to the inventory adjustment that began during the second half of 2022. We estimate that apparent consumption in the United States and Europe fell by around 20 percent. Meanwhile, the high-performance alloys sector maintained its positive performance during the year. 2023 was a challenging but positive year for Acerinox,” Acerinox CEO Bernardo Velazquez said.