Link Securities | Acerinox (ACX) sees potential to increase its operating cash flow (EBITDA) by up to €500 million a year, according to forecasts presented by the company’s chairman, Carlos Ortega, during a press briefing ahead of the Annual General Meeting, as reported by the newspaper Cinco Días.
The Spanish listed company’s projections include a potential increase of up to €300 million in operating profit thanks to inorganic growth in previous years, a figure that could rise to €500 million if synergies and its Beyond Excellence plan are factored in.
In 2025, the company reported an EBITDA of €354 million, 29% lower than in the previous financial year, whilst adjusted EBITDA stood at €422 million, with a sales margin of 7%, in a complex macroeconomic environment characterised by low global demand.
Acerinox will benefit from the entry into force of the CBAM (Carbon Border Adjustment Mechanism), which penalises CO2 emissions from certain non-EU products, a move that has reduced steel imports into the EU by 42%, particularly those from China. Meanwhile, the company has revealed that it is exploring the possibility of listing in the United States, as it believes it could be well received by Wall Street investors.
