Aperam Posts Fourth-Quarter Profit Despite a Fall in Sales [MarketWatch]
APERAM NEW YORK REGISTRY (APEMY)
NASDAQ:AMEX Investor Relations:
aperam.com/about-2/investors-shareholders
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Source: MarketWatch
The Luxembourg-based stainless steel company said on Friday that it made 70 million euros ($75.4 million) in net profit for the quarter ending December 31, on sales that declined 4% to EUR1.56 billion. Advertisement In the prior-year period, Aperam reported a "nil" net profit result. For the whole of the year, the company reported EUR203 million in net profit, down from EUR625 million a year ago. The result comes as fourth-quarter shipments increased to 541,000 tons, driven by a seasonal increase in Europe and a lack of production disruptions. Shipments were 493,000 tons in the prior-year period, the company said. Advertisement Nevertheless, Aperam said that shipment volumes were at an unsatisfactory level and had declined 4.8% on year in 2023. Aperam said that its average selling price in 2023 fell to EUR3,000 a ton, down from EUR3,500 a ton in 2022. For the first quarter, Aperam said it expects earnings before interest, taxes, depreciation and amortization at a comp
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