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Acerinox’s first-quarter results show clear improvement over the fourth quarter of 2022

Thursday April 27, 2023 |
Financial news
EBITDA, at EUR 226 million, was 2.5 times higher than the last quarter of the previous financial year. Acerinox expects a slightly higher EBITDA in the second quarter thanks to a strong North American stainless steel market and a robust high-performance alloys sector. Inventory in our main markets are reaching normal values following strong importation rates in 2022.

Acerinox Group’s 2023 first-quarter profit after taxes and minorities rose to EUR 136 million.

The improvement during this period was also reflected in EBITDA, at EUR 226 million, which was 2.5 times higher than in the final quarter of last year, when the figure stood at 90 million.

Revenue, at EUR 1,782 million, increased by 5% compared to data from the previous quarter (EUR 1,693 million).

Furthermore, a return to normal demand in the first quarter of 2023, compared to the last quarter of 2022, translated to increased production (+36% in the Stainless Steel Division compared to the previous quarter), with increased margins and good cash generation.

Given this situation, Acerinox’s Chief Executive Officer, Bernardo Velázquez, believes that in the following quarter Acerinox can expect “a slightly higher EBITDA compared to the first quarter of the year,” thanks to “the better situation in the North American stainless steel market and a robust high-performance alloys sector, which make us optimistic.”

Acerinox will pay out EUR 150 million in dividends in 2023

The Board of Directors approved in 2022 the dividend policy whereby EUR 0.60 per share will be regularly distributed given the current number of shares. The dividend will be paid in two installments: an interim payment in January and a final payment in July.

In this regard, a dividend of EUR 0.30 per share will be proposed at the General Shareholders' Meeting in 2023, in addition to the interim dividend of EUR 0.30 per share distributed in January.

In 2023, Acerinox will pay out EUR 150 million in dividends.

General Meeting of Shareholders

The General Meeting of Shareholders in Acerinox S.A. will be held on May 23, 2023.

The agenda and proposed resolutions are available on the Group’s website:, which recently underwent a redesign.

Acerinox, committed to Sustainability, includes new reporting standards in its Integrated Annual Report

The publication of Acerinox Group’s Integrated Annual Report illustrates the company's firm commitment to sustainability and its pledge to act with responsible transparency and accountability to stakeholders.

This report is prepared in accordance with the Global Reporting Initiative’s (GRI) sustainability reporting guidelines and includes information in accordance with the main reporting standards and principles, including those of the SASB (Sustainability Accounting Standards Board) and the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).