Acerinox falls after Q1 net profit slumps on weak steel demand

Acerinox

08/05/2025 08:26

** Shares of Acerinox ACX.MC fall 3.9% after its Q1 net profit slumped as tariff-related uncertainties and an adverse backdrop caused markets to slow down and postponed an awaited demand recovery

** The Spanish steelmaker books a net profit of 10 million euros ($11.28 million) in Q1, down 81% from a year ago

** The company also flags concerns that production that previously supplied North America would now flood the EU and hurt its business there

** The shares are at the bottom of Madrid's IBEX 35 .IBEX index, which falls 0.2%

** Including Thursday's fall, the stock has gained 4.6% YTD​

($1 = 0.8863 euros)

 (Reporting by Joao Manuel Mauricio)

 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))