Acerinox CEO Bernardo Velázquez stated, “In the current environment of uncertainty, we must focus on continuously improving working capital and maintaining strong cash generation.” The company noted that its geographical diversification and high value-added product strategy in recent years had a positive impact on its quarterly performance. During the third quarter, Acerinox recorded EUR 108 million in EBITDA and achieved a strong cash flow, supported by a EUR 165 million reduction in working capital over the first nine months of the year.
Quarterly revenue fell 6% from the previous quarter to EUR 1.4 billion due to lower volumes in Europe but increased 9% y-o-y. The group’s net financial debt rose by only EUR 21 million compared to the second quarter of 2025, reaching EUR 1.2 billion.
Velázquez said the company remains cautiously optimistic in the medium term, although short-term performance is being affected by geopolitical tensions and weak demand in both the United States and Europe. He described EU trade defense measures as a positive development, adding: “We urge the EU to approve these measures as soon as possible. Such regulations are essential to preserve the sector’s strategic autonomy and protect quality employment.”
Acerinox expects market conditions in Europe to improve with the implementation of the Carbon Border Adjustment Mechanism (CBAM) from January 1, 2026, while in the United States, the market outlook remains more favorable due to reduced import pressure supported by trade defense actions.
Velázquez emphasized that the company’s strategic plan continues to progress as scheduled, backed by the Haynes integration and new investment projects.
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