Chief Executive
Officer's Report
Bernardo Velázquez Herreros
Annual Shareholders' Meeting | Fiscal Year 2023
Madrid, April 22, 2024
Our results
Revenue | |||||||||||
Cash flow | |||||||||||
€6,608M | €481M |
EBITDA | Net financial debt |
€703M | €341M |
Increased efficiency
New
geostrategic situation
Focus on
higher-value-
added materials
Our results
Leadership | Diversification with | VDM Metals: record profit | ||
in the US | more sophisticated | |||
materials | ||||
Materials and solutions | ||||
for industry | ||||
Standard | High-performance | = | The industry's | |
stainless steels + | alloys | most extensive |
catalog
ACERINOX 2020 RESULTS PRESENTATION
Cycle2020
2023
Apparent consumption of
stainless steel in 2023
EU 27 | USA | |||
-20% | ||
-21.5% |
Raw | Increase in |
materials | stock |
cycle | |
Increase in | Drop in |
apparent | |
imports | consumption |
Overstocking | Drop in sales |
Acerinox Group
1.9 MMT
Melting shop production
Worldwide production of stainless steel
-6% | +5% | |
-10% | +13% | |
-7% |
Price behavior
Section 232: 25% tariff
Regular, reliable, and close supply
Stable prices
NAS
Kentucky
VDM
New Jersey
Nevada
VDM
Germany
Acerinox Europa
Spain
Inefficient safeguard measures
Flood of imports
All-time low prices
New
geostrategic environment
Bringing trade closer
COVID-19
Invasion of Ukraine
China - US rivalry
Strategic autonomy
Economic security
New geostrategic
environment
- Changes began before the pandemic
- Origins in the USA: overdependence on other countries
Diversify and bring our supplier network closer to our customers
- Problems in the Suez Canal
- Water scarcity in the Panama Canal
- Lack of safety in the Red Sea
- Need to reduce Scope 3 CO2 emissions
Deglobalization
ACERINOX 2020 RESULTS PRESENTATION
Acerinox's
strategy
Added value:
our differentiator
More sophisticated materials
Stainless steels and high- performance alloys adapted
to every application
Broadest product range in
the industry
NAS
Kentucky
VDM
New Jersey
Nevada
VDM
Germany
Acerinox Europa
Spain
Columbus Stainless
South Africa
Acerinox's strategy
Beyond Excellence: A new driver of competitiveness
Goal of €100 million in EBITDA
Decarbonization | Efficiency | Customers at the | R&D&i | ||
center | Higher-value- | Productivity | Supply chain | ||
added products | |||||
€45M | Creating value in | ||||
all areas of the |
company
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Acerinox SA published this content on 24 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 April 2024 11:01:30 UTC.