ACERINOX

What ACERINOX does

Acerinox S.A. is a Spanish multinational manufacturer of stainless steel and high-performance alloys, headquartered in Madrid and publicly listed on the IBEX 35 (ticker ES0132105018) with secondary trading on OTCMKTS as ANIOY. The company produces flat and long stainless steel products plus specialty alloys through wholly-owned subsidiaries including Acerinox Europa, North American Stainless (Kentucky), Columbus Stainless (South Africa), VDM Metals (Germany), and Haynes International (Indiana, acquired in 2024 for ~$970 million). Manufacturing spans eight facilities across four continents serving more than 18,000 product combinations, with primary end markets in transport, construction, food processing, energy and environmental technology, household appliances, and (post-Haynes) aerospace.

The company's underlying technology is centered on stainless steel and high-performance alloy metallurgy with a circular-economy sourcing model: over 90% recycled material enters the production process and more than 70% of waste is reused. Its flagship sustainable product, EcoACX® (launched 2024), is composed of 90% recycled stainless steel and achieves a 50% reduction in carbon footprint versus standard steel while maintaining mechanical properties. Revenue is generated almost entirely through B2B hardware sales of stainless flat/long products and high-performance alloys; pricing follows industry conventions with periodic alloy surcharges tied to nickel, chromium, and molybdenum input costs, and go-to-market is executed via direct enterprise sales teams and the AcerinoxDirect customer portal.

The customer base is industrial and diversified across multiple named sectors (food processing equipment via Alfa Laval, chimney systems via Jeremias, plus transport, construction, and aerospace applications). Acerinox reported FY2025 revenue of €5.78 billion (7% year-over-year growth), Q4 2025 adjusted EBITDA of €101 million (19% consensus beat), and full-year operating cash flow of €455 million (up 50%+ year-over-year), against net financial debt of €1.189 billion primarily reflecting the Haynes acquisition. The company holds 11 sustainability/ESG certifications and is the world's fourth-largest stainless steel producer with approximately 10.5% global market share.

Name

ACERINOX

Legal name

Acerinox S.A.

Website

https://acerinox.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Acerinox S.A. is a Spanish multinational manufacturer of stainless steel flat and long products plus high-performance alloys, serving transport, construction, food processing, energy, household appliances, and aerospace customers across global markets from eight manufacturing facilities on four continents.

Ownership category

akta.pro rank

Product category

Stainless Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (3311)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA) (IMAKABAJ)

akta.pro secondary industry

Stainless Steel & High-Temperature Alloy Scrap (Stainless, Inconel, Titanium, Specialty Alloys) (IMAKAMAC)

Keywords

• Stainless steel manufacturing
• High-performance alloys
• Low-emission steel
• Flat steel products
• Recycled stainless steel

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Stainless Steel Products: Manufacture and sale of stainless steel flat and long products, serving industrial sectors including transport, construction, food processing, energy, and household appliances. Revenue of $6.54 billion reported.
2. High-Performance Alloys: Production and sale of high-performance alloys through VDM Metals and Haynes International subsidiaries, serving aerospace, industrial, and energy applications. The Haynes acquisition ($970 million) expanded capabilities in specialty aerospace materials.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Acerinox manufactures and sells stainless steel flat and long products, plus high-performance alloys through its wholly-owned subsidiaries VDM Metals and Haynes International. The company serves industrial sectors including transport, construction, food processing, energy, household appliances, and aerospace, offering more than 18,000 product combinations. Its EcoACX® line provides low-emission stainless steel composed of 90% recycled material with a 50% reduction in carbon footprint.

Product overview

Acerinox is a leading global stainless steel and high-performance alloys manufacturer offering a portfolio of products across two main categories: Stainless Steels (including flat and long products) and High Performance Alloys (VDM Metals and Haynes International). The company also offers EcoACX®, a low-emission sustainable product line with 90% recycled content. Acerinox operates manufacturing facilities worldwide including Acerinox S.A. (Spain), Acerinox Europa, North American Stainless, Columbus Stainless, VDM Metals, Haynes International, Roldan, and Inoxfil. The company emphasizes circular economy with over 90% recycled content rate and more than 70% waste reuse, offering over 18,000 product combinations.

Differentiator

Problem solved

Functional benefit

Brands

• EcoACX: Low-emission stainless steel product line composed of 90% recycled material achieving 50% reduction in carbon footprint compared to standard steel.

Products and services

• EcoACX® Low-emission stainless steel composed of 90% recycled material achieving a 50% reduction in carbon footprint compared to standard steel while maintaining quality and technical performance standards; used for industrial decarbonization applications including heat exchangers and chimneys.
• Stainless Flat Products Flat stainless steel products (sheet, plate, coil) serving transport, construction, food industry, energy and environmental technology, and household appliance applications.
• Stainless Long Products Long stainless steel products (bars, wire rod) serving transport, industrial equipment, construction, food industry, household appliances, and energy applications.
• VDM Metals High-Performance Alloys High-performance alloys brand specializing in specialty stainless steels, nickel alloys, and other advanced materials for demanding industrial applications.
• Haynes International High-Performance Alloys High-performance alloys brand acquired in 2024 for $970 million, specializing in aerospace tubes and specialty alloys for demanding aerospace, energy, and industrial applications.

Quantifiable outcome

• 90% recycled content in EcoACX products
• +4 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and flagship.

• Alfa LavalcoreStrategic or Co-development Partner · 12 June 2026Acerinox and Alfa Laval collaboration where Alfa Laval integrates Acerinox's EcoACX low-emission stainless steel (90% recycled content, 50% carbon reduction) into gasketed plate heat exchangers for food, energy, data center, and building industries worldwide. The partnership demonstrates industrial decarbonization as a present commercial reality rather than future goal.
• JeremiasflagshipStrategic or Co-development Partner · 5 March 2026Historic milestone partnership creating the world's first low-emission chimney line with more than 90% recycled material and 50% reduction in carbon footprint, revolutionizing sustainable construction.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Outokumpu: Finland-based global stainless steel producer with broad flat and long product offerings and a strong cold-rolled focus. Direct competitor across food, transport, construction and industrial applications and among the closest comparables to Acerinox's stainless flat/long core.
• Aperam: Luxembourg-headquartered stainless and specialty alloys producer with European and Brazilian operations. Competes head-on with Acerinox Europa and Acerinox S.A. in flat stainless products across the same end-markets.
• Voestalpine: Austrian steel and technology group with a major special steel and high-performance materials division. Comparable to Acerinox's VDM Metals / Haynes business in specialty alloys for aerospace, oil & gas and tool steel applications.
• Carpenter Technology: US producer of specialty alloys including nickel, cobalt and titanium alloys for aerospace, medical and energy markets. Closest direct competitor to the VDM Metals / Haynes International franchise within Acerinox's portfolio.
• Allegheny Technologies (ATI): US specialty materials producer with high-performance nickel-based alloys and flat-rolled stainless products. Directly overlaps with Acerinox's high-performance alloys business and competes in aerospace and energy end-markets.

Broad incumbents

• ArcelorMittal: World's largest steelmaker and the #1 stainless producer (~18.3% share vs Acerinox's 10.5%). Overlaps across flat stainless, automotive and construction segments but with a far broader carbon-steel portfolio, making Acerinox the more stainless-pure specialist.
• POSCO: South Korea's largest steelmaker and second-largest stainless producer globally (~15.4% share). Competes with Acerinox in stainless flat products and global supply to automotive, appliances and energy, while also operating a much broader carbon-steel and battery materials platform.
• Baosteel: China's largest steelmaker with ~12.5% stainless share, competing in global stainless flat and high-performance alloy markets. Although China-domestic focused, its export push places direct pricing pressure on Acerinox's European and US businesses.
• ThyssenKrupp Steel: German steel major with stainless and electrical steel capabilities competing with Acerinox Europa in flat stainless. A broader industrial conglomerate than Acerinox but with meaningful overlap in automotive-grade and engineered stainless grades.

Emerging players

• Sandvik: Swedish engineering group with a materials technology division producing advanced stainless and high-alloy materials. Comparable in specialty materials innovation but focused more on niche/differentiated applications versus Acerinox's commodity-anchored stainless base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/acerinox
• YouTubeyoutube.com/channel/UCARYgxsQXoL86DXEZp5gDNA
• LinkedInlinkedin.com/company/acerinox-s-a-/?originalSubdomain=en

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACERINOX