Danieli posts increased revenues for Q1 FY 2011-12

Monday, 21 November 2011 17:41:54 (GMT+3)   |  
       

The Italian plantmaker Danieli Group has announced its consolidated results for Q1 (July-September) of fiscal year 2011-12.

In the given period, Danieli recorded a net profit of €40.7 million, up 10 percent year on year, while its revenue increased by 22 percent year on year to €687.3 million. Danieli's EBITDA for Q1 FY 2011-12 amounted to €60.6 milllion, down 29 percent, while EBIT was €40.2 million, up 10 percent, both compared to the same period of 2010.

Accordingly, the increase in revenues derived from the company's steel sector performance, with increased production and higher selling prices due to increases in raw materials costs, and also derived from the improved performance in the plantmaking sector.

On September 30, Danieli Group's order backlog stood at €3.191 billion (with €330 million of this in special steel production), compared with €3.387 billion on June 30 (€380 million in special steel production).

According to the company statement, 2012 may bring a stabilization or a slight decrease in global steel production: BRIC and MENA countries will continue to grow albeit more slowly, but there is going to be a reduction of volumes in most developed economies. Prices, however, should remain stable, as operators have stronger balance sheets and balanced operating structures.


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