Switzerland-based Swiss Steel group expects to achieve EBITDA between €150 to 180mn through the rest of 2021, keeping in mind the seasonal effects of the upcoming quarters.
The company plans to focus on capturing market opportunities and leverage its personnel and financial resources and implement the transformation program, which is currently on track, it said in a statement.
In H1 2021, the company’s sales volume rose by 35.6pc to 1mn t (907,185mt) from 758,000t in H1 2020. In Q2 2021, its sales volume saw a 72.1pc surge to 518,000t compared to 301,000t in the same quarter last year.
Its revenue in the first half of the year grew by 35.4pc to €1.5bn ($1.7bn) from €1.1mn in the same half last year. Revenue in Q2 2021 increased by 78.6pc to €839.1mn from €469.9mn in Q2 2020.
Swiss Steel’s adjusted EBITDA rose to €109.9mn in H1 2021 compared to a loss of €52mn in H1 2020. In Q2 2021, it grew to €65.4mn from a loss of €45.8mn in Q2 2020.
$1 = €0.85