Bankinter | Acerinox (ACX) resumes activity in Europe. The agreement for the new agreement allows the resumption of activity at the Algeciras Plant, after 137 days of strike. Analysis: The agreement ends the strike that has continued for the last four months, during the negotiation of the Collective Bargaining Agreement. Stainless Steel losses in Europe amounted to €31 million in EBITDA in 1Q2024. The Group obtained an EBITDA of €111…

Bankinter: The main figures compared to the company’s own consensus for 1Q24 are: Revenues €1,481M (down 16.9% year-on-year; down 3.1% year-on-year) against €1,516M estimated; EBITDA €111M (down 50.9% year-on-year; up 15.6% quarter-on-quarter) fully in line with €111M estimate, giving an EBITDA margin of 7.5% for the group (7.2% in Stainless Steel and up 8.2% in High Performance Alloys). EBITDA of €53M (against €136M in 3Q 2022) against +€45M estimated. Net…

Acerinox has informed the National Securities Market Commission (CNMV) that it has reached an agreement to acquire 100% of the American company, Haynes International, which specialises in high-performance alloys. Haynes market consensus expects company sales in 2024 of $649 million and EBITDA of $96 million. The expected synergies amount to $71 million. The price amounts to $798 million (30% of Acerinox’s market capitalisation), equivalent to an enterprise value of $970…

Alphavalue / Divacons| The stainless steel company will pay this Friday an interim dividend for the financial year 2023, payable in cash, in the amount of €0.31/share to each of the existing and outstanding shareholders of the company entitled to receive it, as approved by its Board of Directors last December 20th. In accordance with the dividend policy of the company specialising in the manufacture of stainless steel and high-performance…

Renta 4 | The company has informed the National Securities Market Commission (CNMV) of investments in its high performance alloys division (VDM), as well as the presentation of its new excellence plan. Investments in VDM: Acerinox has announced an investment of €67 million, including an atomiser for the production of stainless steel powders and high-performance alloys for additive manufacturing. At the same time, three remelting furnaces will be extended, and…