Acerinox: I'm A Buyer During The Downcycle [Seeking Alpha]
ACERINOX SA UNSP/ADR (ANIOY)
NASDAQ:AMEX Investor Relations:
acerinox.com/en/accionistas-inversores
Company Research
Source: Seeking Alpha
Follow Summary 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. Despite potential increased net debt post-Haynes acquisition, Acerinox remains attractive with a low EV/EBITDA multiple and strong free cash flow yield. Looking for more investing ideas like this one? Get them exclusively at European Small-Cap Ideas. Learn More » valilung/iStock Editorial via Getty Images Introduction Acerinox ( OTCPK:ANIOY OTCPK:ACRXF ) reported a mixed bag when it published its first half results, but as I argued in a previous article, the producer of stainless steel (and specialty alloys) is a very intriguing countercyclical "bu
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