Acerinox (OTC) ( (ANIOY) ) has released its Q2 earnings. Here is a breakdown of the information Acerinox (OTC) presented to its investors.
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Acerinox (OTC) is a prominent player in the stainless steel and high-performance alloys industry, known for its global operations and focus on sustainable manufacturing practices. The company has recently released its earnings report for the first half of 2025, highlighting a challenging market environment influenced by geopolitical tensions and tariff wars. Despite these challenges, Acerinox reported a 10% increase in revenue compared to the same period last year, reaching EUR 3.1 billion. However, EBITDA for the first half of 2025 was EUR 214 million, a 9% decrease from the previous year, primarily due to lower prices in the United States and the impact of the U.S. dollar depreciation.
Key financial metrics from the report indicate a mixed performance. The company’s EBITDA for Q2 2025 improved by 10% compared to Q1 2025, totaling EUR 112 million, despite a EUR 10 million negative impact from the U.S. dollar depreciation. Melting shop production in the first half of 2025 was 1,012 thousand tons, a 17% increase from the previous year. However, the company recognized an impairment of tax credits amounting to EUR 48 million, resulting in a net loss after tax of EUR 28 million for Q2 2025. Operating cash flow for the first half of 2025 was EUR 148 million, enabling continued investments and shareholder remuneration.
Acerinox’s strategic initiatives include ongoing investments in North American Stainless (NAS) and VDM Metals to enhance production capacity and modernize facilities. The company is also advancing its Beyond Excellence Plan, aiming to improve EBITDA by EUR 100 million over three years. In the first half of 2025, the plan contributed EUR 23 million in savings, with significant progress in productivity, efficiency, and decarbonization efforts.
Looking ahead, Acerinox remains cautious due to the uncertain macroeconomic environment and ongoing trade tensions. The company expects Q3 2025 EBITDA to be in line with Q2 2025, as it continues to focus on strategic integration and adaptive strategies to mitigate market challenges. Management remains optimistic about potential synergies from its integration efforts and the strengthening of its position in key markets, particularly in the U.S., where tariff measures are expected to benefit domestic producers.