Spanish Acerinox’s net profits & sales revenue decrease in 2023 y-o-y
Time:Thu, 07 Mar 2024 09:31:24 +0800
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Acerinox, S.A., a stainless steel manufacturing conglomerate group based in Spain, declared its financial performance in 2023. Its net profits were about EUR228 million, a year-on-year decrease of 60%. The sales revenue amounted to EUR6.6 billion, dropping by around 24% compared to 2022. Meanwhile, the EBITDA totaled EUR703 million.
Acerinox forecasted that the US market was expected to improve as early as the second quarter of this year, but Europe might have to wait until the third quarter. It also said that although the European economy is still behind the US, the lower interest rate might attract more funds and increase demand for household appliances and automobiles.
