Swiss Steel Group with significantly improved results in comparison to the previous year
Lucerne, April 28, 2021 - Swiss Steel Group, a global leader in special long steel, 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.
About Swiss Steel Group
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. With close to 10,000 employees at its own production and distribution companies in over 30 countries across five continents, the Company supports and supplies its customers around the globe and offers them a full product portfolio from Production and Sales & Services. They benefit from the Company's technological expertise, consistently high product excellence across the globe, and in-depth knowledge of local markets.