acerinox industria acero

Acerinox buys 100% of American company Haynes International for $798 M

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…

acerinox industria acero

Acerinox pays interim dividend of €0.31 in cash for 2023

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…

Acerinox cool

Acerinox to invest €67m in high-performance alloys division, VDM Metals, and generate 15% more revenue

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…

Acerinox cool

Acerinox’s Q3’22, weaker than expected (Ebitda -18%); prospects for Q1’23 improve

Bankinter | Acerinox has reported net profit of 741 million euros in the nine months to September, 99% higher than a year earlier. However, in the third quarter net profit dropped 22% to 133 million euros, due to a slowdown in activity in this period. The main figures compared with the company’s consensus for Q3’22: Revenues 2.175 billion euros (+28% yr/yr) vs 2.314 billion estimated; EBITDA 241 million euros (-18%…


Acerinox to implement ERTE in Algeciras plant due to energy prices

Renta 4 | ACERINOX. Possible new production halt in Algeciras plant due to energy prices. 1-. Acerinox has informed workers’ representatives at its Algeciras plant that it will begin to implement the ERTE (Temporary Employment Regulation) agreed on in March from September 11, for a maximum period of 15 days. This move is the result of high energy prices. 2-. The aim is to cut production of steel lines, hot rolled and…

Stainless steel

We still prefer carbon steel vs stainless steel; ArcelorMittal (Overweight) and Acerinox (Equalweight)

Morgan Stanley | The steel companies have historically done badly in recessions. Currently, with the risks of recession on the rise, margins at spot price continue to weaken and we have seen an important derating. It is likely that delays in prices support Q2 profits, but we see a significant slowdown from the next quarter. We still prefer carbon steel to stainless steel. ArcelorMittal (OW): we expect the company to generate…

acerinox campo gibraltar

The March Family Rejects Mittal’s Offer For Acerinox

Acerinox confirmed on Monday the breakdown of talks with Aperam, owned by the Mittal family (with 40% of the capital), in an operation that, in the eyes of the market, has lasted two sessions and four days. Although the contacts have lasted for several weeks. Aperam would have taken the first step in its intention to launch a takeover bid for 100% of Acerinox’s capital, but neither the form nor…


Acerinox shares suspended from trading on rumours of merger with Aperam

Bankinter | The Stock Market Regulator (CNMV) has suspended trading in the shares of Acerinox this Friday, on the news of a possible merger with Aperam, whose share trading is also suspended. According to financial daily Expansion, and as picked up by Bloomberg on Thursday, Acerinox and Aperam could be studying their integration. Bankinter analysts’ team opinion: Acerinox and Aperam are both leaders in stainless steel, with similar market capital (Acerinox’s…


Greater pressure on US imports in H2’22: Acerinox, from Overweight to Equalweight, T.P. 11,70 to 13,30 euros/share

Morgan Stanley | The market is assuming normalised profits and not extrapolating the extraordinary profits in Q1 2022 due to macroeconomic uncertainties. For the time being, we remain neutral on the sector and are changing our order of preference. Aperam has been the one which has most lagged behind out of all the steel stocks YTD. We believe the recent derating is exaggerated and its exposure to Europe clearly compensates that….


Nippon Steel Liquidates Its Stake In Acerinox

UBS has sold approximately 21.4 million ordinary shares of ACERINOX (ACX), informing the market that the final terms of the private placement have been set. The sale was carried out via an accelerated bookbuilt offering, aimed exclusively at qualified investors. The shares sold represent approximately 7.9% of Acerinox’s share capital, and the amount of the placement was EUR 225 million, with a sale price of 10.55 euros per share. On…