Swiss Steel Reports Improved Results for Q1 of 2021
Leading special long steel maker Swiss Steel Group has significantly improved its financial key performance indicators compared to the prior-year quarter. In
Leading special long steel maker Swiss Steel Group has significantly improved its financial key performance indicators compared to the prior-year quarter. In the first quarter of 2021, sales volumes increased by around 12% to 510 kilotons compared to the same quarter of 2020, the order backlog rose by approx. 59% to 684 kilotons, and adjusted EBITDA improved to around EUR 44 million from EUR -6 million. Group result as well improved significantly to approx. EUR 5 million from EUR -42 million.
As planned and already announced, the company will present more detailed information on the results for the first quarter of 2021 and the outlook for the financial year 2021 as part of its capital market reporting on May 5, 2021.
The Swiss Steel Group is currently one of the world's leading providers of customized solutions in the field of special long steel products. The Group is also one of the leading manufacturers in the global market for both tool steel and stainless long steel and is one of the two largest companies in Europe for alloyed and high-alloy quality & engineering steel.