Swiss Steel Group Achieves Strategic Milestones Amidst Challenging Environment

Swiss Steel Holding AG announced significant strategic achievements despite a challenging market environment in the first half of 2024. Sales volume dropped by 6.2% from 610 kilotons in H1 2023 to 572 kilotons in H1 2024, excluding Ascometal, due to reduced market demand. Consequently, revenue fell by 20% year over year.

The company's EBITDA increased to EUR 71.7 million, with net debt reduced from EUR 829 million to EUR 631 million, mainly due to a capital increase in April 2024. The management of Ascometal sought court protection in March, impacting financial comparability.

Order intake improved, reflecting adaptability in production schedules. However, the Group's backlog declined by 15.8%. Despite an overall subdued market, strategic divestments and cost improvements are on track under the SSG 2025 program, positioning Swiss Steel Group for future growth in the Green Steel sector.