Italian company Marcegaglia Group has announced that in 2009 it achieved a net profit of €16.29 million, slightly down on the figure of €16.43 million for 2008. Meanwhile, its turnover stood at €2.69 billion for 2009, down 39 percent from €4.43 billion in the previous year.
The steel division of Marcegaglia Group delivered 4 million mt of products in 2009, down 19 percent year on year. The breakdown of its sales revenues for the year is as follows: €648 million for pipes, down 39 percent; €1.126 billion for flat steel products, down 41 percent; €360 million for stainless steel, down 33 percent, and €160 million for other steel products, down 65 percent, all compared to 2008.
Commenting on its 2009 results, Marcegaglia Group stated that, despite the drop in its financial results, the company increased its market share, as local competitors posted worse performances in 2009. In addition, in the first four months of the current year Marcegaglia's sales and revenues indicated significant increases, up 35 percent and 41 percent year on year respectively.