Acerinox reported earnings results for the second quarter and first half of 2018. For the quarter, the company reported the net sales in second quarter was EUR 1.334 billion, 12% better than second quarter 2017. EBITDA was EUR 151 million, 20% higher. And results after taxes and minorities EUR 80 million, that is 52% higher. operating cash flow positive of EUR143 million.

For the six months, the company reported net sales of EUR 2.588 billion. That is higher than last year, almost 6% higher than last year. In volumes, the company deliveries were almost 9% higher than 2017. EBITDA, accumulated EBITDA is EUR 268 million, which is still 15% lower than last year. And results after taxes and minorities is EUR 138 million, only 8% below last year's numbers. Second quarter results, good cash generation, have decreased debt under difficult circumstances. Positive cash flow generation was EUR 131 million. The company has paid EUR 63 million, and the CapEx actually taking place. And at the end, the company have generate a free cash flow in the semester after CapEx of EUR 68 million. This moves to a reduction in the net financial debt, as has been reported, of EUR 72 million.

At the end of third quarter in October, the company will report EBITDA and all numbers above 2017. Expects a similar level of EBITDA for third quarter than second quarter.

For the second half of 2018, capex is expected to be in the range of EUR 100 million.

And in the year 2018, the company is moving to a probably big positive cash generation. Capex is expected to be EUR173 million or EUR165 million.

To gear up on the CapEx spend in the course of the next year 2019, so basically EUR 170 million is kind of the level The company expects for the next years as well.