May 29th, 2017

Chairman Marcegaglia reveals the 2016 turnover

“In the first quarter of 2017” Antonio Marcegaglia declared “we registered a rise in steel volumes of +1.1%, compared to the same period of last year, but also a 31% increase of the turnover, thanks to high prices, and an almost 10% gross mark up. This start of the year was therefore positive. I think 2017 will improve till summer.”

The chairman also focused on the results of the past year, giving a preview of the 2016 group turnover: “In 2016 Marcegaglia Steel registered a 3.4% growth in volumes, with 5.2 million tons sold and an high increase of specialties area, with the stainless products and cold drawn bars divisions.”

“Hot dip galvanized is the strongest performing product, but also the flat products had a great performance”, the chairman said. “We achieved a higher than European average consumption, which is about +2,2%. Revenues reached 3.8 billion euros as Marcegaglia Steel and 4.1 billion euros adding the diversified part of the group. Gross profit was 332 million euros for Marcegaglia Steel, 360 million euros including the other group divisions.”

Finally, Antonio Marcegaglia made a prediction on 2017 turnover. “I expect a 5 billion euros group turnover (+25% compared with 2016). The growth is not due only to stronger volumes but also to price increasing.”