The Italian plant maker Danieli Group has announced its consolidated results for Q1 (July to September) of fiscal year 2011-12.

In the given period, Danieli recorded a net profit of EUR 40.7 million, up by 10% YoY, while its revenue increased by 22% YoY to EUR 687.3 million. Danieli's EBITDA for Q1 FY 2011-12 amounted to EUR 60.6 million, down by 29% YoY, while EBIT was EUR 40.2 million, up by 10% YoY.

Accordingly, the increase in revenues derived from the company's steel sector performance, with increased production and higher selling prices due to increases in raw materials costs and also derived from the improved performance in the plant making sector.

On September 30th 2011, Danieli Group's order backlog stood at EUR 3.191 billion (with EUR 330 million of this in special steel production), compared with EUR 3.387 billion on June 30th 2011 (EUR 380 million in special steel production).

According to the company statement, 2012 may bring stabilization or a slight decrease in global steel production: BRIC and MENA countries will continue to grow albeit more slowly, but there is going to be a reduction of volumes in most developed economies. Prices, however, should remain stable, as operators have stronger balance sheets and balanced operating structures.

(Sourced from Steel Orbis)
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