Acerinox : Les résultats du T2 valideront les caractéristiques défensives du groupe
>L’EBITDA du T1 impacté par une dépréciation des stocks - Acerinox a dégagé un EBITDA de 85 M€ au T1 2020 (vs ODDO BHF : 95 M €, consensus : 94 M € et T4 2019 : 112 M €). Ce résultat comprend un ajustement négatif des stocks de 16 M€ (forte baisse du prix du nickel) et les premiers effets du confinement en Espagne qui ont plus que compensé la hausse des livraisons de 22% comparé au T4 2019. Notons que l’EBITDA du T1 n'inclut pas la contribution de VDM (10 M€ en mars)....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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