Acerinox released a solid set of numbers for Q1 22
These were supported by healthy demand and very strong prices, while the Alloys segment is slowly recovering
Net debt is only increasing due to the working capital build-up
Despite the fact we will revise our (too conservative) forecasts upwards, we may not change our target price materially
11 May 2022
Nice Q1… but some headwinds ahead
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Nice Q1… but some headwinds ahead
- Published:
11 May 2022 -
Author:
Fabrice Farigoule -
Pages:
3
Acerinox released a solid set of numbers for Q1 22
These were supported by healthy demand and very strong prices, while the Alloys segment is slowly recovering
Net debt is only increasing due to the working capital build-up
Despite the fact we will revise our (too conservative) forecasts upwards, we may not change our target price materially