Aperam, a stainless steel manufacturer headquartered in Luxembourg, said its stainless and electrical steel deliveries rebounded by 2.6% in the fourth quarter compared to the previous quarter, supported by improved European demand and stronger-than-expected sales in Brazil.

However, deliveries dropped by 1.5% year on year to 401,000 tons due to a sharp decrease in demand. Shipments in 2024 grew by 4.9% to 1.63 million tons due to a low base in 2023.

The stainless and electrical steel segment's adjusted EBITDA turned positive at EUR 42 million in the fourth quarter, recovering from a loss of EUR 34 million a year earlier, while full-year revenue nearly doubled to EUR 175 million from 2023’s EUR 92 million.

Aperam expects lower EBITDA in the first quarter of this year and higher net financial debt following the consolidation of Universal Stainless & Alloy Products.