Swiss Steel Group Maintains Strategy Amidst Market Challenges

Swiss Steel Group navigated a challenging 2024, marked by a 5.1% decline in sales volume to 1,056 kilotons, amid a weak market. Revenue dropped 14.3% to EUR 2,432 million. The EBITDA showed improvement, recording EUR –35.5 million compared to EUR –102.2 million in 2023, aided by one-time effects and efficiency improvements.

The company reduced its workforce by 15.5% in response to lowered demand in key sectors like automotive and mechanical engineering. Despite a struggling market, Swiss Steel Group increased its market share in stainless and engineering steel in 2024.

As part of its SSG 2025 strategy, Swiss Steel enhanced its capital base with an April 2024 capital increase, raising EUR 300 million. This move, coupled with extended financing arrangements, lowered net debt to EUR 711.4 million. These measures ensured continued progress towards long-term financial stability and resilience.