Italy - Latest news GMK Center

Last year, Italian steel exports decreased by 8.4% y/y, and imports – by 2.5% y/y

In January-April, Italian steelmakers reduced steel output by 7.6% y/y

The company's investments for 2022-2026 are planned at the level of €400 million

During the year, the company produced 3.5 million tons of steel and 3.3 million tons of pig iron

The company's EBITDA in 2022 reached €727 million, while net profit reached €411 million

The company has already concluded an agreement for the supply of environmentally friendly steel to the Mercedes-Benz automobile company

Costs of importing steel to the country increased by 33% y/y

In this way, the company expects to reduce the order fulfillment time and solve problems with the supply of ArcelorMittal slabs

Construction should begin by July 2023

The company gained control over the SIA SD service center in Riga and subsidiaries of SD Sp.zo.o. in Poland and SD LLC in Ukraine

In the first quarter, Italian steelmakers reduced steel output by 6% y/y

Initial public offering is being considered as one of the potential options