A positive year for Feralpi: the Consolidated Financial Statement 2019
Yet another positive year for Feralpi. The steel manufacturing group, one of the European leaders in the production of steel for the construction industry and special steels, closed 2019 in profit, with turnover, margins and production holding up with respect to a good 2018, moreover it is confirmed a strong propensity to invest. Investments remained high at 54.5 million euro to give continuity to the industrial development plan. The investment was targeted not only at achieving maximum efficiency, but also at contributing to the decarbonisation of production activity, reducing consumption and emissions, and developing new circular economy models to facilitate the optimisation of resources and the adoption of energy-efficient technologies.
With regard to the circular model, of particular relevance is the experimental furnace recovery project, with products generated by reusing plastic materials/polymers as reduction agents to replace coal to reduce the use of natural materials, by capitalising on recovered materials.
The 2019 Feralpi Holding’s consolidated financial statements show a turnover of 1,302 million euro against 1,320 million in 2018, registering a contained -1.3% y/y. These figures confirm a strong inclination towards markets outside of Italy, with of 62% of turnover generated abroad, in line with the figure recorded the previous year.
Net of amortisation, depreciation and write-downs amounting to 53.9 million euro, against 46 million in 2018, EBITDA also held at 125.1 million euro against 126.2 million euro in 2018. The net result remains positive at 40.8 million euro (53.7 million in the previous financial year). Consolidated shareholders’ equity increased from 475.5 million euro to 509.5 million euro.
«The positive results achieved in 2019 strengthen our Group, even in a situation where the market slowed down, especially in the second half of the year», commented Giuseppe Pasini, Chairman of the Feralpi Group. «What didn’t slow down was our inclination towards investments, which continued to be robust to remain competitive, and picking up on what the UN 2030 Agenda and the European Green New Deal are asking to manufacturing companies. In other words, the use of sustainable, circular development models that contribute to decarbonisation, foster social inclusion and create value for the area and community where we operate. These are also the pillars of our development strategy, which are steering investments and R&D projects».
The Feralpi Group has, for the first time, decided to draw up the voluntary Non-Financial Declaration (NFD) for the year 2019, in accordance with Legislative Decree 254/2016. Even though the Group is not one of the organisations required to draw up a NFD, it was felt necessary to anticipate alignment with Legislative Decree to provide stakeholders with comparable elements and encourage increasing transparency in relation to corporate, environmental and economic aspects.