Lucerne Switzerland headquartered Swiss Steel Group has increased the adjusted EBITDA to over EUR 96 million in April-June 2022 quarter as compared to EUR 65 million in April-June 2021 and EUR 171 million during January-June 2022 as compared to EUR 110 million in January-June 2021. The consolidated results for the second quarter of 2022 rose to EUR 47 million and to EUR 74 million in the first half of 2022 compared to EUR 35 million in the same period last year. Swiss Steel said “The internationally stable market environment resulted in this earnings growth despite high volatilities and rising prices for energy and raw materials. The price increases were largely passed on to our customers. The margins of all products improved. The overall reduced sales volume of 457 kilotons for 518 kilotons in same quarter of previous year is in particular due to the stoppage of the steel mill in Ugine. Production at this mill specializing exclusively in stainless steel is ramping up since June 2022. With the drop in the price of scrap noted at the end of the quarter as well as the overall instable geopolitical situation, it can be expected that there will be a slight decline in margins in the near term and somewhat lower market demand in the second half of the year. The material uncertainties of the energy sector in regard to price development and availability, particularly of natural gas, cannot currently be conclusively assessed.”The Swiss Steel Group is 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 largest companies in Europe for alloyed and high-alloyed quality and engineering steels.
Lucerne Switzerland headquartered Swiss Steel Group has increased the adjusted EBITDA to over EUR 96 million in April-June 2022 quarter as compared to EUR 65 million in April-June 2021 and EUR 171 million during January-June 2022 as compared to EUR 110 million in January-June 2021. The consolidated results for the second quarter of 2022 rose to EUR 47 million and to EUR 74 million in the first half of 2022 compared to EUR 35 million in the same period last year. Swiss Steel said “The internationally stable market environment resulted in this earnings growth despite high volatilities and rising prices for energy and raw materials. The price increases were largely passed on to our customers. The margins of all products improved. The overall reduced sales volume of 457 kilotons for 518 kilotons in same quarter of previous year is in particular due to the stoppage of the steel mill in Ugine. Production at this mill specializing exclusively in stainless steel is ramping up since June 2022. With the drop in the price of scrap noted at the end of the quarter as well as the overall instable geopolitical situation, it can be expected that there will be a slight decline in margins in the near term and somewhat lower market demand in the second half of the year. The material uncertainties of the energy sector in regard to price development and availability, particularly of natural gas, cannot currently be conclusively assessed.”The Swiss Steel Group is 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 largest companies in Europe for alloyed and high-alloyed quality and engineering steels.
