Italy's largest steelmaker Riva Group has announced its financial results for 2009.
Accordingly, in 2009 Riva posted a net loss of €547.7 million, compared to a net profit of €503.1 million in 2008. Sales revenues of the company were €5.823 billion last year, a significant decrease from €11.262 billion in the previous year.
The disappointing performances were due to the crisis that hit the global steel industry. Steel demand declined dramatically, leading to a decrease of 35.1 percent in Italy's steel output in 2009.