Acerinox presented its results for the first quarter this Friday, which closed with a net profit of 5 million of euros, which represents a 50% less than the figure harvested in the same period of the previous year (10 million). The company has warned of the risks due to political uncertainty but has stated that, despite this, it expects the adjusted EBITDA for the second quarter to be higher than that of the first. «The recent upsurge in the conflict in the Middle East injects volatility into the energy and raw materials markets and generates caution in various sectors of consumption of our materials,» explains the steel company, which states that thanks to its geographical diversification, it expects the direct impact of this conflict «is limitedmainly affecting an increase in transportation and gas costs.» Hence, it has been optimistic regarding the figures for the current quarter. The billing of the group rose to 1,384 million euros, 11% less than in the first quarter of 2025, while the EBITDA was located in 95 million euros, which represents 7% less than in the first three months of the previous year. The adjusted EBITDA, for its part, was 119 million euros. For its part, Steel production was 493,000 tons in the first quarter, 4% lower compared to January-March of the previous year, something that is related, according to Acerinox, to the fire that affected one of Acerinox Europe’s hot material pickling lines at the end of 2025, and that «limited» production during the first quarter. «This line has already been operational again in April, which anticipates an improvement in production volumes for the second quarter,» he asserts. and the net financial debt increased to 1,295 million euros. «The beginning of 2026 continues to be marked by turbulence, volatility and uncertainty. «The geopolitical panorama has been aggravated not only by the persistence of conflicts in Ukraine and Gaza, but also by the escalation in Iran,» he said. Bernardo VelazquezCEO of the company, who explained that «given that these sources of tension coincide with key regions in energy production, the impact on the global economy is profound and direct.» And «to this instability is added the current fragmentation of international trade«. In this sense, the manager explains that «the tariffs imposed by the US Administration a year ago have triggered a global response in the form of tariffs, redesigning trade flows.» «This situation has caused Apparent consumption of stainless steel in the US and Europe remains stagnant«, with figures that he describes as «eloquent», since apparent consumption in the United States in 2025 was 18% lower than in 2019 and that in Europe was 13% lower than in the same year. «In the first quarter of 2026 this situation has only worsened with a decrease of 11% in the United States and 7% in Europe.» However, Velázquez points out, «despite the generalized ‘wait’ attitude in the market, In sectors such as aerospace, defense and energy infrastructure for data centers, positive dynamics are expected«. In the high-performance alloys division, the oil and gas sectors and the chemical industry continue to suffer a contraction in investments due to geopolitical uncertainty, but in the Stainless division they see «a gradual recovery of prices that will offset cost increases.» That is why Acerinox continues with its Strategic Plan. «The projects included in our Strategic Plan guarantee Acerinox’s leadership in the new geopolitical framework and we estimate that they can contribute 500 million euros at the EBITDA level,» says the CEO. «In a global scenario defined by strategic autonomy and the relocation of supply chains, our commitment to industrial strengthening places us in an undisputed leadership position,» he also highlights. Likewise, he points out that «This quarter’s results validate our geographic and product diversification strategy». «We remain firm on the renewed roadmap at the end of 2025, supported by our four fundamental pillars: operational excellence, high added value product, non-negotiable commitment to sustainability and financial discipline and solidity,» he concludes.
