Acerinox records 51% less y-o-y in its net profit in Q3, 2023
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Update time : 2023-11-13 15:27:05
The Spanish stainless steel maker Acerinox announced its results for the third quarter of 2023. The net profit totaled EUR70 million, a drop of 51% compared to the same period of the previous year.
The company noted that lower demand in Europe due to economic uncertainty and rising interest rates has weighed on steelmakers' profits this year.
The company expects that EBITDA for the last quarter of this year will be slightly lower than the third quarter.
