Leading special long steel maker Swiss Steel Group announced that its revenue in January- March 2022 quarter surged by 37% YoY despite slight decrease in sales due to significantly higher prices. Swiss Steel CEO Mr Frank Koch said “We continue to see good demand from end markets and strong profitability. This led to an adjusted EBITDA of EUR 75 million. It proves that we are on track with our transformation as we continue to strengthen our position toward becoming one of the most ecological and efficient special steel producers. In terms of profitability the first quarter was particularly strong for applications of our engineering steel despite a slight decrease in sales volume, bolstered by very strong contributions from our Sales & Services division. Unfortunately, our results are currently negatively affected by the shortfall from our operations in Ugine following the severe accident in early January. While we look forward to ramping up the melt shop this summer, it has been pleasing to see the strong collaboration within the Group, supplying the ongoing Ugitech downstream operations from internal sources.”----------------------------Jan-Mar 2022 QuarterOrder backlog - 726 kilotons, up 6.1% YoYSales volume – 480 kilotons, down 5.9% YoYRevenue - EUR 1,028.8 million, up 36.9% YoYAverage sales price - EUR 2,145 per tonne, up 45.3% YoYEBITDA - EUR 67.6 million, up 61.3% YoYEBITDA margin – 6.6%EBIT - EUR 46.3 millionGroup result - EUR 27.1 millionOutlook for 2022 “Based on our reported Q1 2022 results and our order book we expect a continued stable performance. However, the potential impact of the conflict in Ukraine on our business cannot yet be fully assessed. Temporary supply chain issues are likely to continue until at least the second half of 2022. In addition, extreme price turbulence for raw material, hikes in energy prices and the general risk of supply shortages for gas have recently increased again. On the basis of only immaterial disruptions, we continue to expect adjusted EBITDA to be in a range between EUR 160-200 million.”Swiss Steel Group is today one of the world's leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed quality and engineering steels. With close to 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, the company guarantees global support and supply for its customers and offers them a complete portfolio of production and sales & services around the world.
Leading special long steel maker Swiss Steel Group announced that its revenue in January- March 2022 quarter surged by 37% YoY despite slight decrease in sales due to significantly higher prices. Swiss Steel CEO Mr Frank Koch said “We continue to see good demand from end markets and strong profitability. This led to an adjusted EBITDA of EUR 75 million. It proves that we are on track with our transformation as we continue to strengthen our position toward becoming one of the most ecological and efficient special steel producers. In terms of profitability the first quarter was particularly strong for applications of our engineering steel despite a slight decrease in sales volume, bolstered by very strong contributions from our Sales & Services division. Unfortunately, our results are currently negatively affected by the shortfall from our operations in Ugine following the severe accident in early January. While we look forward to ramping up the melt shop this summer, it has been pleasing to see the strong collaboration within the Group, supplying the ongoing Ugitech downstream operations from internal sources.”----------------------------Jan-Mar 2022 QuarterOrder backlog - 726 kilotons, up 6.1% YoYSales volume – 480 kilotons, down 5.9% YoYRevenue - EUR 1,028.8 million, up 36.9% YoYAverage sales price - EUR 2,145 per tonne, up 45.3% YoYEBITDA - EUR 67.6 million, up 61.3% YoYEBITDA margin – 6.6%EBIT - EUR 46.3 millionGroup result - EUR 27.1 millionOutlook for 2022 “Based on our reported Q1 2022 results and our order book we expect a continued stable performance. However, the potential impact of the conflict in Ukraine on our business cannot yet be fully assessed. Temporary supply chain issues are likely to continue until at least the second half of 2022. In addition, extreme price turbulence for raw material, hikes in energy prices and the general risk of supply shortages for gas have recently increased again. On the basis of only immaterial disruptions, we continue to expect adjusted EBITDA to be in a range between EUR 160-200 million.”Swiss Steel Group is today one of the world's leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed quality and engineering steels. With close to 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, the company guarantees global support and supply for its customers and offers them a complete portfolio of production and sales & services around the world.
