Stable Cash Flow Generation
Despite challenging market conditions, Acerinox generated an operating cash flow of EUR 152 million in Q3 and EUR 299 million year-to-date, covering CapEx and dividends.
Positive Market Developments in North America
The North American Stainless Steel market showed positive signs with inventory levels below historical averages and a reduction in imports, leading to a positive price evolution.
New Trade Measures in the European Union
The European Commission released new trade measures aimed at reducing import market share by 55% for stainless steel, which is expected to improve competitiveness in the European market.
Strategic Investments in Capacity Expansion
Acerinox is increasing capacity at North American Stainless by 20% and investing in increasing VDM's production and efficiency by 15%.
Successful Integration of Haynes
The integration of Haynes is progressing well, with EUR 11 million in synergies achieved in the first year.