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Arvedi Group Closes 2018 With Positive Result

Steel News - Published on Mon, 17 Jun 2019

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Arvedi Group closes the 2018 financial year with very positive results, in terms of production, sales, revenues and profitability. The improvement in financial debt was also satisfactory, falling by over 72 million euros compared to 2017. In summary, as at 31 December 2018 the Group recorded a + 5% in production volumes (just over 4.5 million tons) and consolidated revenues up 9.5% compared to the previous year, reaching Euro 3.126 billion, thanks also to the favorable trend in average sales prices, in particular in the first half of the year.

The gross operating margin recorded in 2018 at the Group level is in line with that of the previous year, reflecting a strong and stable competitive capacity. The consolidated gross operating result was in fact EUR 460.4 million. The result is of particular importance, given the market trend, marked by a marked slowdown in the last months of the year. Contributing the most to the result was the carbon steel segment which accounts for about 85% of the total, while among the Group companies the largest contributor was Acciaieria Arvedi, which alone is worth about 73%. In 2018, the Group's consolidated operating result amounted to EUR 269.6 million.

The consolidated net financial debt improved, which as at 31 December 2018, amounted to EUR 580.5 million with a decrease of EUR 72.7 million compared to the previous year, in full consistency with the "deleveraging" process announced in 2016. In terms of investments, in 2018 the Group invested a total of EUR 109.3 million in tangible assets of all the consolidated companies, of which about EUR 60 million for Acciaieria Arvedi.

Mr Cavalier Giovanni Arvedi Chairman of the Group said that "We are very satisfied the results achieved in 2018 because they confirm the solidity and competitiveness of our Group which is now firmly among the major players in the sector at national and international level. As I have repeatedly emphasized thanks to the investments made and the optimizations pursued on the side of production and transformation costs, today all the companies have very solid industrial bases, both in terms of processes and products, such as to be able to compete effectively. And the improvement process is still ongoing in all our companies engaged in new important investment plans.”

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Posted By : Sanju Moirangthem on Mon, 17 Jun 2019
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