Acerinox : Du mieux au T1 mais surtout au T2
>Un T4 moins bon qu’attendu - L'EBITDA du T4 a atteint 58 M€ (vs de 97 M€ attendus) en raison surtout d’une dépréciation de stocks de 22 M€. Le management met en cause une détérioration soudaine du marché, en particulier en Europe. Notons néanmoins la rapidité de réaction du groupe à ajuster la production (baisse séquentielle de la production de 16% au T4) en donnant la priorité à la génération de cash et au désendettement.Les mesures de sauvegarde de l’U...Acerinox is the parent company of a group engaged in the manufacture and sale of flat and long stainless steel products, and stainless steel wires. Co.'s major products include slabs, billets, black coils, plates, hot-rolled coils, hot-rolled sheets, flat bars, hot-rolled re-bars, hot-rolled black bars, engraved sheets, cold-rolled coils, cold-rolled sheets and circles. Co. also provides long stainless steel products, such as wire rods, angles, hot rolled flat bars, hot rolled re-bars, reinforced bars in coils, cold rolled re-bars, hot rolled black bars, cold drawn bars, and smooth turned bars. In addition, Co. offers wires, welding wire bars, and bars for electrodes.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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