Italian steelmaker Ori Martin sees its sales halve in 2009

Friday, 23 July 2010 15:38:42 (GMT+2)

Italian billet, rebar and high-grade steel producer Ori Martin has issued its financial results for 2009.

Accordingly, in 2009 the company's turnover fell from €444.1 million in 2008 to €212.7 million, while its net profit was just €4.6 million, against €19.9 million in the previous year. EBITDA stood at €17 million in 2009, down 61.6 percent year on year.

In the year in question, Ori Martin produced 384,000 metric tons of crude steel, while finished steel output reached 388,000 metric tons (including 111,000 metric tons of rebar).

Despite the global crisis, Ori Martin has continued its €30 million program of investments. In particular, money has been invested in a new five-line continuous casting plant, which has been supplied by Italian plantmaker Danieli. "The automotive sector is the main target of our business, and it needs very high quality steel," stated Ori Martin's president Franco Polotti.

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