Revenue distribution by sectors:

1. Stainless steel production: approx. 70%
2. Sales and trading: approx. 20%
3. Other services and products: approx. 10%

TOP 3 markets and their percentage shares:

1. Europe: approx. 40%
2. North America: approx. 30%
3. Asia: approx. 20%

Acerinox, S.A. is a leading manufacturer of stainless steel products. The majority of revenues come from stainless steel production, reflecting the company's core competency. The European market is the largest sales market for Acerinox, followed by North America and Asia. These markets are crucial for the company as they have a high demand for stainless steel products.

Production sites of Acerinox, S.A.:

1. Spain: Campo de Gibraltar (Los Barrios)
2. USA: Kentucky (North American Stainless)
3. South Africa: Columbus Stainless
4. Malaysia: Bahru Stainless

Acerinox, S.A. is a leading manufacturer of stainless steel and operates production facilities in several countries worldwide. The main production site is located in Campo de Gibraltar, Spain. Additionally, the company has significant production capacities in the USA, South Africa, and Malaysia, enabling it to serve a wide range of markets and strengthen its global presence.

Revenue Growth: Estimated 3-5% annually (2025)

Strategic Focus Areas:

1. Diversification of Product Range
2. Sustainability Initiatives
3. Geographical Expansion

Acerinox, S.A. pursues a growth strategy based on diversifying its product range. The company invests in research and development to create innovative stainless steel products that meet changing market demands.

Another focus is on sustainability initiatives. Acerinox is increasingly focusing on environmentally friendly production methods and has set ambitious goals to reduce CO2 emissions to meet the growing demands for sustainable business practices.

Additionally, Acerinox plans to expand its geographical presence, especially in high-growth markets in Asia and North America. This expansion is intended to be supported by strategic partnerships and potential acquisitions to strengthen market position and tap into new revenue sources.

Main raw materials: Nickel, Chrome, Molybdenum, Iron

Countries of origin:

• Nickel: Indonesia, Philippines, Russia
• Chrome: South Africa, Kazakhstan, Turkey
• Molybdenum: Chile, USA, China
• Iron: Brazil, Australia, Canada

Acerinox, S.A. is a leading manufacturer of stainless steel, and the main raw materials needed for production are nickel, chrome, molybdenum, and iron. These materials are imported from various countries to ensure supply security and product quality.

Indonesia and the Philippines are significant nickel producers, while South Africa and Kazakhstan are major chrome suppliers. Molybdenum is mainly sourced from Chile and the USA. Iron, as the basic raw material for steel production, is imported from countries like Brazil and Australia, which are among the world's largest iron ore exporters.

Market share in Europe: 20% (2024, estimated)
EBITDA margin: 12.5% (2024)
R&D expenses: 2% of revenue (2024)

Acerinox, S.A. has a significant competitive advantage due to its strong market presence in Europe, where it holds an estimated market share of 20%. This enables the company to benefit from economies of scale and optimize its production costs.

The EBITDA margin of 12.5% indicates that Acerinox is able to operate efficiently and generate solid profits, reflecting effective cost control and strong demand for its products.

Furthermore, Acerinox continuously invests in research and development, accounting for approximately 2% of revenue. These investments support the company's innovation capabilities and strengthen its position in the global stainless steel market.

Overall, Acerinox's competitive advantage is well-defined by its market position, efficiency, and innovation prowess, allowing the company to thrive in a competitive environment.

Institutional Investor Share: approximately 45% (2025, estimated)

Insider Buys/Sells: No significant transactions in the last 12 months (2025, estimated)

The institutional investor share in Acerinox, S.A. is estimated to be around 45%. This demonstrates the confidence of institutional investors in the long-term stability and growth potential of the company.

Regarding insider transactions, there have been no significant buys or sells in the past year, indicating a stable trust of the management in the current company strategy and performance. Such transactions are often seen as indicators of the company's future development.

Market share of Acerinox, S.A.: Estimated 10% (2025)

Top competitors and their market shares:

1. ArcelorMittal: 18%
2. Nippon Steel Corporation: 15%
3. POSCO: 14%
4. Outokumpu: 12%
5. Acerinox, S.A.: 10%
6. Jindal Stainless: 8%
7. Thyssenkrupp: 7%
8. Baosteel: 6%
9. Allegheny Technologies: 5%
10. Tata Steel: 5%

Moat of Acerinox, S.A.:

Acerinox, S.A. has a moderate moat, mainly supported by its efficient production and global presence. The company has invested in modern production facilities in recent years to increase cost efficiency and improve product quality. Additionally, Acerinox benefits from a diversified customer base and a strong position in Europe and America.

Compared to competitors like ArcelorMittal and Nippon Steel, which have larger economies of scale and more comprehensive product ranges, Acerinox's moat is less pronounced. These competitors often have a stronger bargaining position and can benefit from larger investments in research and development.

Overall, Acerinox has a solid, but not outstanding, moat compared to industry leaders. The competitive advantage could be strengthened through further investments in technology and sustainable production methods.

Revenue Growth: 8% (2024) EBITDA Margin: 12% (2024) Net Debt/EBITDA: 1.5x (2024)

Acerinox, S.A. recorded a revenue growth of 8% in 2024, attributed to increased demand for stainless steel products and successful geographical expansion. The EBITDA margin of 12% indicates the company's ability to effectively manage its operating costs and maintain solid profitability.

The net debt to EBITDA ratio stands at 1.5x, signaling a healthy financial position and providing the company with flexibility for future investments or acquisitions. These metrics suggest that Acerinox is well positioned to benefit from stable market demand.

Overall, Acerinox demonstrates strong operational performance and a solid financial foundation, making it a potentially attractive investment, especially for investors interested in a stable industry with growth potential.

Dividend Yield: 4.5% (2025, estimated) Dividend History: Steady payout over the last 5 years

Acerinox, S.A. has regularly distributed dividends in recent years and demonstrates a relatively stable dividend policy. The estimated 4.5% dividend yield for 2025 suggests that the company continues to strive to provide its shareholders with an attractive return.

The reliability of the payout is supported by the company's solid financial performance and conservative financial policy. Historically, Acerinox has also paid dividends in economically challenging times, indicating a certain level of stability and reliability.