Acerinox S.A. Unsponsored ADR (ANIOY)
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Acerinox: I'm A Buyer During The Downcycle
Acerinox's H1 results show robust cash flows and margin protection despite a downcycle, with a net free cash flow of 98.5M EUR. The pending Haynes International acquisition, while delayed, is strategically beneficial, adding cash and reducing net finance costs. Acerinox's EBITDA improvement plan is on track, aiming for a 100M EUR annual boost, with a 3.5-year union agreement stabilizing European operations.
Acerinox, S.A. (ANIOY) Q2 2024 Earnings Call Transcript
Acerinox, S.A. (OTCPK:ANIOY) Q2 2024 Earnings Call July 24, 2024 7:00 AM ET Company Participants Carlos Lora-Tamayo - Head, Investor and Media Relations Bernardo Velazquez - Chief Executive Officer Miguel Ferrandis - Chief Financial Officer Esther Camos - Incoming Chief Financial Officer Conference Call Participants Tom Zhang - Barclays Tristan Gresser - BNP Paribas Exane Ioannis Masvoulas - Morgan Stanley Moses Ola - JPMorgan Bastian Synagowitz - Deutsche Bank Maxime Kogge - ODDO Oscar Rodriguez - Banco Sabadell Robert Jackson - Banco Santander Moses Ola - JPMorgan Carlos Lora-Tamayo Good morning, everybody, and welcome to the Acerinox earnings conference call for the second quarter 2024.
