Italy-based Feralpi Group’s results down slightly in 2019

Italy-based Feralpi Group’s results down slightly in 2019

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Lonato del Garda, Italy-based steelmaker Feralpi Group, which is among the leaders in Europe in the production of steel for the construction industry, has announced its financial results for 2019.

Accordingly, in 2019 the group’s turnover amounted to €1.302 billion, down slightly from €1.320 billion recorded in 2018. 63 percent of the figure was generated abroad, in line with the percentage in the previous year. Feralpi’s EBITDA in 2019 stood at €125.1 million, compared to €126.2 million in the previous year. The group’s net profit went from €53.7 million in 2018 to €40.8 million in 2019. Last year, the company’s investments amounted to €54.5 million.

As for the group’s operating results, production volumes did not change significantly compared to 2018, “despite a generalized contraction in steel production both in Italy and in Germany,” as Feralpi underlined. In 2019, the group companies produced 2.49 million mt of steel, down 0.3 percent compared to the previous year.

“The positive results achieved in 2019 strengthen our group in a context in which the market, especially in the second half of the year, slowed down its pace,” commented Giuseppe Pasini, president of Feralpi Group. “Our propensity to invest remained robust in order to remain competitive by implementing what the United Nations 2030 Agenda and the European Green New Deal are asking of manufacturing companies. That is, adopting sustainable and circular development models, capable on the one hand of contributing to decarbonization and, on the other, of promoting social inclusion and the creation of value for the territory and the community in which we operate,” he added.

Innovation and new technologies are the key that led the group to reduce greenhouse emissions by three percent year on year in 2019 and indirect emissions from electricity by four percent year on year. 93 percent of Feralpi’s production comes from recycled steel.

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