Greek steel processor & distributor SIDMA STEEL SA announced that the strong upward trend of the Turnover was maintained, which amounted to EUR 55,602 thousand compared to € 32,855 thousand in the corresponding period of 2020, recording an increase of 69.2%. The high profitability was maintained both in terms of EBITDA of EUR 6,044 thousand against EUR 1,674 thousand and profits before taxes of EUR 3,897 thousand against losses of EUR 134 thousand.Regarding the first nine months of the year, the turnover of the Group amounted to EUR 162.0 million or 72.1% higher compared to the corresponding period of 2020, while together with the consignment sales amounted to EUR 197.2 million from EUR 115.4 million that is, increased by 70.9% compared to last year. EBITDA amounted to EUR 25,170 thousand from EUR 3,515 thousand last year, while the profit before taxes amounted to profits of EUR 32,184 thousand from losses of EUR 1,902 thousand in the corresponding period last year.Outlook – “Regarding the uncertainty and risks of Covid-19, the fourth wave of the pandemic could affect the short-term growth prospects of the Greek economy, with a negative impact on the Group's financial size, however such a development does not seem to materialize at present in the basic scenarios of forecasts of economic agents and analysts. In addition, our experience of 2020 shows that the demand for steel can only be affected under conditions of general lockdown, but such a measure has been categorically ruled out by the Government. We estimate that the growth rate of Greek economy is more likely to be halted due to the increase in energy costs, the general inflationary pressures exerted in the global economy by the disruption of supply chains due to COVID-19 and the climate crisis.”Founded in 1931 and listed on the ATHEX since 2005, SIDMA STEEL is a leading Greek company in the field of trading and industrial processing of steel products. It operates integrated Steel Service Centers in both Athens and Thessaloniki. SIDMA Steel imports, trades, and processes steel products. The Company offers flat rolled steel, merchant bars, beams, plates, tubes, and wire products.
Greek steel processor & distributor SIDMA STEEL SA announced that the strong upward trend of the Turnover was maintained, which amounted to EUR 55,602 thousand compared to € 32,855 thousand in the corresponding period of 2020, recording an increase of 69.2%. The high profitability was maintained both in terms of EBITDA of EUR 6,044 thousand against EUR 1,674 thousand and profits before taxes of EUR 3,897 thousand against losses of EUR 134 thousand.Regarding the first nine months of the year, the turnover of the Group amounted to EUR 162.0 million or 72.1% higher compared to the corresponding period of 2020, while together with the consignment sales amounted to EUR 197.2 million from EUR 115.4 million that is, increased by 70.9% compared to last year. EBITDA amounted to EUR 25,170 thousand from EUR 3,515 thousand last year, while the profit before taxes amounted to profits of EUR 32,184 thousand from losses of EUR 1,902 thousand in the corresponding period last year.Outlook – “Regarding the uncertainty and risks of Covid-19, the fourth wave of the pandemic could affect the short-term growth prospects of the Greek economy, with a negative impact on the Group's financial size, however such a development does not seem to materialize at present in the basic scenarios of forecasts of economic agents and analysts. In addition, our experience of 2020 shows that the demand for steel can only be affected under conditions of general lockdown, but such a measure has been categorically ruled out by the Government. We estimate that the growth rate of Greek economy is more likely to be halted due to the increase in energy costs, the general inflationary pressures exerted in the global economy by the disruption of supply chains due to COVID-19 and the climate crisis.”Founded in 1931 and listed on the ATHEX since 2005, SIDMA STEEL is a leading Greek company in the field of trading and industrial processing of steel products. It operates integrated Steel Service Centers in both Athens and Thessaloniki. SIDMA Steel imports, trades, and processes steel products. The Company offers flat rolled steel, merchant bars, beams, plates, tubes, and wire products.
