Poland headquartered steel distributor Stalprofil has improved performance in January-June 2022 despite price correction-related write downs. Stalprofil estimates that in the second quarter of 2022, the unit net profit decreased by 44% to PLN 23.8 million and in the first half of 2022, the company's net profit increased by 11% YoY to PLN 61.4 million. Sales revenues in the second quarter increased by 29%, to PLN 311.7 million, EBITDA decreased by 39% to PLN 33.5 million and gross profit on sales by 35%, up to PLN 43.4 million.In the conditions of extremely unstable prices of steel products and high volatility of demand from steel consumers, Stalprofil’s sales volume in H1 of 2022 was up by 12% YoY, resulting increase in revenues by 69% YoY in the steel segment.Stalprofil said “The situation on the steel market in H1 2022, especially in the 1st and 2nd quarter of this year, was strongly influenced by the consequences of the war in Ukraine. Broken chains of supplies from regions involved in an armed conflict caused a periodic shortage of metallurgical products on the market, with a simultaneous increase in demand as a result of precautionary purchases by steel consumers, resulting in a sharp increase in prices. This extraordinary condition of the steel market began to correct from the sweat of April. Prices on the steel distribution market, in Q2 and Q3 this year, in many assortments it has returned to the pre-war levels or much closer to this level.”
Poland headquartered steel distributor Stalprofil has improved performance in January-June 2022 despite price correction-related write downs. Stalprofil estimates that in the second quarter of 2022, the unit net profit decreased by 44% to PLN 23.8 million and in the first half of 2022, the company's net profit increased by 11% YoY to PLN 61.4 million. Sales revenues in the second quarter increased by 29%, to PLN 311.7 million, EBITDA decreased by 39% to PLN 33.5 million and gross profit on sales by 35%, up to PLN 43.4 million.In the conditions of extremely unstable prices of steel products and high volatility of demand from steel consumers, Stalprofil’s sales volume in H1 of 2022 was up by 12% YoY, resulting increase in revenues by 69% YoY in the steel segment.Stalprofil said “The situation on the steel market in H1 2022, especially in the 1st and 2nd quarter of this year, was strongly influenced by the consequences of the war in Ukraine. Broken chains of supplies from regions involved in an armed conflict caused a periodic shortage of metallurgical products on the market, with a simultaneous increase in demand as a result of precautionary purchases by steel consumers, resulting in a sharp increase in prices. This extraordinary condition of the steel market began to correct from the sweat of April. Prices on the steel distribution market, in Q2 and Q3 this year, in many assortments it has returned to the pre-war levels or much closer to this level.”
