Acerinox showed notable improvement in its quarterly results for January to March 2024, marked by a significant reduction in debt by EUR107 million compared to the previous quarter.

The company reported a quarterly EBITDA of EUR111 million, a 15% increase from the last quarter of 2023, with an EBITDA margin of 7%. The revenue for the first quarter totaled EUR1,481 million, a 3% decrease attributed to fewer shipments. Profit after tax and non-controlling interests stood at EUR53 million.

Acerinox indicated that the outlook remains steady for the American and high-performance-alloys markets, while challenges persist in Europe. Investments exceeding EUR300 million are underway, including expansion plans for North American Stainless (NAS) and VDM Metals.