September 08, 2008

Interseroh AG Q1 turnover up by 21% YoY

The service and raw materials trading group Interseroh based in Cologne has once again increased its turnover and profit in the first quarter of 2008 as compared to the same period last year. The consolidated group turnover rose in the first quarter of 2008 was 20.59%YoY to EUR 527 million as compared to EUR 437 million.

The turnover in the steel and metals recycling segment climbed from EUR 305.9 million to EUR 405.1 million. The services segment contributed EUR 69.4 million to the turnover. The turnover in the business segment for raw materials trading increased from EUR 46.4 million to EUR 61 million. An amount of EUR 8.5 million was consolidated between the segments. The EBT increased from EUR 16.6 million in the first quarter of 2007 to EUR 17.3 million this year, while the EBIT grew from EUR 17.8 million to Euros 19.5 million.

On the one hand, higher prices for steel and metal scrap compared to the same period last year contributed to the strong boost in turnover in the steel and metals recycling segment. On the other hand, the group was able to increase sales quantities due to the purchases of new locations completed in the business year 2007.