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ACX — Acerinox News Story

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Brief: Acerinox Q3 Net Profit 25 Mln Euros

Oct 31 (Reuters) - Acerinox SA ACX.MC:

Q3 REVENUE 1.42 BILLION EUROS VERSUS 1.43 BILLION EUROS LSEG ESTIMATE

Q3 NET PROFIT 25 MILLION EUROS

Q3 EBITDA 108 MILLION EUROS VERSUS 111.5 MILLION EUROS LSEG ESTIMATE

MAINTAINS POLICY OF PRIORITIZING WORKING CAPITAL AND CASH GENERATION FOR THE END OF THE YEAR

GIVEN YEAR-END SEASONALITY IN  U.S., SALES TO FALL, SEES EBITDA FOR Q4 WILL BE LOWER THAN THAT OF Q3

MAINTAINS THE SAME SHAREHOLDER REMUNERATION AS LAST YEAR

CONSIDERS A POSITIVE STEP FORWARD RECENT PROPOSAL OF TRADE DEFENSE MEASURES IN EU AIMED AT PROTECTING STEEL SECTOR AGAINST UNFAIR COMPETITION AND GLOBAL OVERCAPACITY

IT IS EXPECTED THAT THESE INITIATIVES, ONCE IMPLEMENTED, WILL POSITIVELY IMPACT RESULTS OF ACERINOX AS WELL AS REST OF STEEL SECTOR

Source text: ID:nCNMlxCYPF

Further company coverage: ACX.MC

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))

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