• Revenue through September amounted to 4.5 billion euros, 9% higher than during  the first nine months of 2024 
• The gross operating income (EBITDA) amounted to 108 million euros in the third  quarter 
• Operating cash flow amounted to 299 million euros during the first nine months,  driven by a reduction in working capital of 165 million euros 

Acerinox has obtained net profits of 25 million euros in the  third quarter of the year, in a market situation subject to persistent worldwide geopolitical and economic uncertainty.  

Thanks to the success of Acerinox’s strategy implemented over recent years  (geographical diversification and development of higher value-added products), the  company has obtained in the quarter 108 million euros of gross operating income  (EBITDA) and has achieved a significant operating cash flow of 152 million euros, 299  million euros during the first nine months of the year, driven by a reduction in working  capital of 165 million euros. 

The cash generation for the quarter, 152 million euros, has enabled payment of the final  dividend in July, together with the investments already provided for in the strategic plan.  The Group’s net financial debt has amounted to 1.2 billion euros, only 21 million euros  higher than that of the second quarter of 2025.  

“In the current context of uncertainty, we must focus on the continuous improvement of  working capital and solid cash generation”, affirmed Bernardo Velázquez, CEO of  Acerinox. 

Quarterly revenue, 1.4 billion euros, was 6% lower than during the previous quarter due  to lower volumes in Europe, but 9% higher than during the same period last year.

Trade defense measures 

“Although the short-term continues to be affected by the geopolitical situation and low  demand in our two main markets, namely the United States and Europe, nonetheless we  look toward the medium-term with a certain degree of optimism”, stated Bernardo  Velázquez. 

The company considers a positive step forward the recent proposal of trade defense  measures in the EU aimed at protecting the steel sector against unfair competition and  global overcapacity. It is expected that these initiatives, once implemented, will positively  impact the results of Acerinox as well as the rest of the steel sector. 

“The provisions adopted by the European Commission respond to the demands of the  sector and reinforce the importance of the steel sector in safeguarding strategic  autonomy and ensuring quality employment”, stated the CEO of Acerinox. “We urge the  EU to approve these measures as soon as possible”. 

In Europe, moreover, Acerinox is optimistic about the improvement of European market  conditions once the new Carbon Border Adjustment Mechanism (CBAM) is implemented,  as from January 1, 2026. 

In Acerinox’s main market, the United States, the situation is significantly better than in  Europe due to the trade defense measures established during the second quarter, which  have resulted in a reduction of import pressure. 

These actions will decisively contribute to the implementation of the Acerinox strategic  plan, which continues to progress as planned, with the integration of Haynes and new  investments constituting fundamental parts of this process.