Riva Group’s profits and sales revenues decline in 2009

Tuesday, 20 July 2010 17:36:11 (GMT+2)

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.

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