Acerinox Generates an EBITDA of 454 Million Euros in 2014

Acerinox ends 2014 with profits of 136.3 million euros (6.2 times the amount the previous year), after tax, minority interests and the fiscal reform impairment (which does not involve a cash outflow). Without these deductions, the net result would have been 159 million euros. These are the best results the company has had in the last seven years.

The Company has achieved profits of 243.8 million euros before tax, which is 7.3 times more than last year, which “gives us reason to be optimistic about the future”, as pointed out by Bernardo Velázquez, CEO of Acerinox, who added that “the world economic situation on the
whole is improving and this growth will have the effect of creating a balance between the supply and demand of stainless steel. This scenario will allow us to increase the usage of the capacity of our facilities, and as a result we will be able to fulfil the potential of Acerinox as the most
competitive group in the sector”.