Acerinox, the Spanish-headquartered stainless supplier, posted record results in the first half of 2022. This is despite ongoing uncertainty from the war in Ukraine, as well as cost inflation linked with energy and transportation prices, Kallanish notes.
The group remains concerned by the continuing uncertainties in the market. “The second half of the year will be marked by the conflict in Russia and Ukraine, and the many uncertainties arising from it. The factor which causes greatest concern at the moment is energy, not only because of high prices in Spain, but also because of uncertainties about future regular supply in Germany,” Acerinox explains.
Acerinox chief executive Bernardo Velazquez says the regionalisation in the market will continue and, to some extent, offset economic slowdown. “We believe that this new decade that we are starting in such a turbulent way will allow us to value the geographical diversification of the Acerinox Group and all the progress we are making, which will boost Acerinox’s results,” Velazquez observes.
Acerinox’s melting shop production decreased 4% year-on-year in H1 to 1.2 million tonnes. Revenue jumped 57% y-o-y during the same period to €4.8 billion and Ebitda increased some 150% to €945 million.
Emanuele Norsa Italy