Luxembourg-based stainless steel manufacturer Aperam announced that sales revenue in the stainless and electrical steel segment totaled 1.08 billion euros in the second quarter of 2026, an increase of nine percent from the previous quarter and 6.8 percent year-on-year, mainly due to higher selling prices.
Steel shipments in this segment remained stable quarter-on-quarter and increased slightly year-on-year to 430,000 tons, despite inventory build-up ahead of planned investments in Brazil. The average selling price of steel increased by 9.1% quarter-on-quarter and 6.2% year-on-year to 2,400 euros per tonne.
Adjusted EBITDA for the stainless and electrical steel segment increased by 68.6% compared to the previous quarter to 59 million euros, driven by higher prices and a positive valuation impact, although it remained below the 65 million euros recorded in the second quarter of 2025. With exceptional earnings of 27 million euros, segment EBITDA reached 86 million euros, and operating profit increased sharply to 62 million euros from 11 million euros in the previous quarter and 35 million euros a year earlier.
Aperam's total sales revenue increased by 7.2% compared to the previous quarter and by 2.1% year-on-year to 1.69 billion euros. Adjusted EBITDA increased by 44.4% quarter-on-quarter and 16.1% year-on-year to 130 million euros, while net income rose to 116 million euros from 3 million euros in the first quarter and 19 million euros in the same quarter of 2025. Total shipments decreased 1.8% quarter-on-quarter, but grew 2.5 percent year-on-year to 606,000 Т.
Aperam CEO Sood Shivaji stated that there was a strong four-quarter performance in the second quarter. This year, with all business units and the electrical segments of steel production, waste recycling, and renewable energy gaining momentum. He added that the company continued to convert its improved operating performance into cash and reduce debt, despite higher raw material costs in the first half of the year.
In the third quarter, Aperam expects adjusted EBITDA to decrease due to the usual summer recession. Nevertheless, Sivaji noted that the supportive EU protective measures and the structural improvements achieved by the company's Journey of Leadership program should help Aperam remain resilient despite weak demand and energy-related inflation.
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