Spain headquartered stainless steels & high performance alloys leader Acerinox ended 2021 with its best results ever with EBITDA totaling EUR 989 million and profit after tax and non-controlling interests amounting to EUR 572 million. Acerinox Group’s Chief Executive Officer Mr Bernardo Velázquez said “Despite 2021 also being heavily affected by the pandemic, the year was the best in history with record figures in the main financial and operating indicators. These results were driven by a general improvement in the market, very active cost control management, increased efficiencies and clearly improved margins. These strategies, which we have been working on consistently over the last few years, are today reflected in these outstanding results”.-------------------2021 Highlights-------------------In 2021, the Acerinox Group’s melting shop production totalled 2.619 million tonnes, 19% higher compared to 2020 and the highest figure recognized in its history.Group’s revenue totalled EUR 6,706 million, a 44% increase compared to 2020. This figure was boosted by an extraordinary fourth quarter in which revenue totalled EUR 1,937 million, up 14% compared to Q3 of 2021 and up 59% compared to the same quarter of 2020Group EBITDA reached EUR 989 million in 2021, 2.6 times higher than that of 2020 and setting a new record in the history of Acerinox. Fourth quarter EBITDA amounted to EUR 318 million, 2.4 times the gross operating profit in the fourth quarter of 2020. At 31 December 2021, the EBITDA margin on sales had increased to 15%.Group recognized a net profit, after tax and non-controlling interest, of EUR 572 million, EUR 523 million more than in 2020. In the last quarter of 2021, net profit totalled EUR 198 million, 11 times higher than that of the same period in 2020.Acerinox cannot determine the consequences of the current geopolitical tensions, although its direct exposure in the region is very limited, with sales of less than 0.5%. Mr Velázquez added "The good demand outlook, lower import pressures in the main markets due to high shipping costs and trade defense measures, low inventory levels and improved prices enable us to be optimistic for the first half of 2022.”
Spain headquartered stainless steels & high performance alloys leader Acerinox ended 2021 with its best results ever with EBITDA totaling EUR 989 million and profit after tax and non-controlling interests amounting to EUR 572 million. Acerinox Group’s Chief Executive Officer Mr Bernardo Velázquez said “Despite 2021 also being heavily affected by the pandemic, the year was the best in history with record figures in the main financial and operating indicators. These results were driven by a general improvement in the market, very active cost control management, increased efficiencies and clearly improved margins. These strategies, which we have been working on consistently over the last few years, are today reflected in these outstanding results”.-------------------2021 Highlights-------------------In 2021, the Acerinox Group’s melting shop production totalled 2.619 million tonnes, 19% higher compared to 2020 and the highest figure recognized in its history.Group’s revenue totalled EUR 6,706 million, a 44% increase compared to 2020. This figure was boosted by an extraordinary fourth quarter in which revenue totalled EUR 1,937 million, up 14% compared to Q3 of 2021 and up 59% compared to the same quarter of 2020Group EBITDA reached EUR 989 million in 2021, 2.6 times higher than that of 2020 and setting a new record in the history of Acerinox. Fourth quarter EBITDA amounted to EUR 318 million, 2.4 times the gross operating profit in the fourth quarter of 2020. At 31 December 2021, the EBITDA margin on sales had increased to 15%.Group recognized a net profit, after tax and non-controlling interest, of EUR 572 million, EUR 523 million more than in 2020. In the last quarter of 2021, net profit totalled EUR 198 million, 11 times higher than that of the same period in 2020.Acerinox cannot determine the consequences of the current geopolitical tensions, although its direct exposure in the region is very limited, with sales of less than 0.5%. Mr Velázquez added "The good demand outlook, lower import pressures in the main markets due to high shipping costs and trade defense measures, low inventory levels and improved prices enable us to be optimistic for the first half of 2022.”
