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Acerinox Reports EUR 364 Million EBITDA in 2019-The 21st China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/16/2020 - Stainless Steel Exhibition |
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Stainless steel giant Acerinor has reprted turnover of the year, 4,754 million euros in 2019, is the second highest in the last decade, compared to 5,011 million euros in 2018. The adjusted EBITDA is 402 million euros, which includes 38 million euros of provision for layoffs iin the European plant of Acerinox. Acerinox obtained an adjusted EBITDA of 402 million euros and a cash generation of 231 million euros in what was a complex environment .
The result after taxes and minorities, a loss of 60 million euros, was affected by non recurring extraordinary items, with no cashflow effect. The impact of these measures supposed an impact of 236 million euros to the net result which includes the layoffs of Acerinox Europe at the EBITDA level, the impairment of the assets of Bahru, the write off of goodwill in Columbus and the tax credits in the Spanish tax group.
Acerinox has received authorization from the competition authorities of Europe and North America and now the only remaining approval is the that of the Taiwanese authorities to enable us to conclude ( or formalize) the contract to buy VDM metals which we expect in the coming days.
Outlook – “The strength of the North American market with low import levels, leads us to be somewhat optimistic. Uncertainty remains in the European market, although activity is improving. We trust that the European authorities will impose further anti dumping and anti subsidy measures against Taiwan, China and Indonesia.” 不銹鋼展-2020第二十一屆廣州國(guó)際不銹鋼工業(yè)展-The 21st China(Guangzhou)Int''l Stainless Steel Industry Exhibition - Stainless Steel exhibition,2020 Stainless Steel exhibition, China Stainless Steel exhibition, Guangzhou Stainless Steel expo,Guangzhou Stainless Steel exhibition, 2020 Stainless Steel expo, China Stainless Steel expo |
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