Acerinox optimistic about H2 performance
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Update time : 2023-08-02 20:10:25
Acerinox, a stainless steel manufacturer based in Spain, reported that its net profit reached EUR 142 million in the second quarter of the year, rising by 4.4% compared to the preceding quarter and falling by 59% from the same period in 2022. The year-on-year decrease was mainly due to reduced steel demand.
The EBITDA during the period rose also dropped by 55% year on year to EUR 236 million, but it slightly grew from the previous quarter due to stronger performance in the US.
Acerinox said the current market is facing uncertainties and weak demand, but it is still optimistic about the order volume in the second half of this year as market inventories are decreasing.
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