Luxembourg-headquartered global stainless steel producer Aperam SA, which was spun off by ArcelorMittal and separately listed in 2011, has announced its financial results for the second quarter and the first half of 2013.
In the second quarter, Aperam registered a net loss of $11 million compared to a net loss of $28 million in the same quarter of 2012. In the given quarter, the company's sales amounted to $1.36 billion, increasing 1.1 percent year on year, while steel shipments improved by 3.9 percent to 450,000 mt compared to the second quarter of the previous year. Aperam's EBITDA increased to $81 million from $66 million in the same period of the previous year.
During the first six months of the current year, Aperam recorded a net loss of $39 million compared to a net loss of $40 million in the first half of 2012. In the given period, the company's sales amounted to $2.63 billion, decreasing by 4.5 percent year on year, while steel shipments fell 1.73 percent to 851,000 mt compared to the first half of the previous year. Aperam's EBITDA increased to $146 million from $131 million in the same period of 2012.
Philippe Darmayan, CEO of Aperam, said that the company's profitability increased despite a steep nickel price drop and the deterioration of the market. However, the company remains cautious considering the stainless steel environment.
