Acerinox SA (STU:ACE1)

€ 10.8 +0.24 (+2.29%) Market Cap: 2.70 Bil Enterprise Value: 3.78 Bil PE Ratio: 7.86 PB Ratio: 1.10 GF Score: 83/100

Q1 2025 Acerinox SA Earnings Call Transcript

May 08, 2025 / 09:00AM GMT

Release Date Price: €10.28 (+1.18%)

Transcript

Key Points

Positve

Acerinox SA (ANIOY) reported a strong EBITDA of EUR 102 million in a challenging business climate, demonstrating resilience.
The company generated EUR 99 million in cash flow during the quarter, despite a 29% increase in production.
Acerinox SA (ANIOY) successfully reduced working capital by EUR 6 million, showcasing effective management.
The company has a solid order book, particularly in the United States, indicating strong future performance.
Acerinox SA (ANIOY) is focusing on geographical diversification, producing on three continents, which mitigates exposure to regional recessions.

Negative

Profits were below Q1 2024 levels, partly due to market corrections and tariff-related uncertainties.
The European market remains weak with low prices and no signs of demand reactivation.
Net debt increased by EUR 75 million, influenced by dividend payments, CapEx, and currency conversion effects.
The chemical process industries are experiencing delays in capital investments due to market uncertainties.
The company faces ongoing challenges from imports gaining market share in the United States.

Carlos Lora;tamayo Villacieros

Acerinox SA - Director - Investor Relations & Communications

Good morning, everyone and welcome to Acerinox first-quarter '25 conference call. Today, the presentation will be hosted by our CEO, Bernardo Velazquez; our Chief Corporate Officer, Miguel Fernandez; and our CFO Esther Camos.

After our prepared remarks, we will open the line for questions. Before getting started, let me remind you that this conference call is being broadcast on our website, acerinox.com. Now, I would like to give the floor to our CEO, Bernardo. Please go ahead.

Bernardo Velazquez Herreros

Acerinox SA - Chief Executive Officer, Executive Director

Good morning, everyone and thank you for attending this presentation. Before I came here, I was reading the reactions in the newspapers and saying something like Aceriox results are shrinking because of tariffs. This is not reflecting the reality. Esther and Miguel will explain later our financial data and why the profits are below Q1 '24, but this is not the situation.

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