Spanish Acerinox’s net profit grows in Q2
Acerinox, S.A., a stainless steel manufacturing conglomerate group based in Spain, announced that its net profit was around €80 million in the second quarter of 2018, an increase of 51.7% year on year. Its net sales amount was about €1.3 billion, a growth of 12% year on year. In addition, its earnings before interest, taxes, depreciation and amortization (EBITDA) was €151 million, a rise of 20% year on year.
Acerinox also stated that the US market remained positive for the third quarter although it was estimated to be influenced by the additional fee of alloy due to the decreased price in chromium and nickel. Consequently, the better performance in sales was expected to show in the future despite the uncertainties from the trade war.
