Germany-based long steel producer Saarstahl has announced its financial and operational results for 2014, reporting an EBITDA of €233 million, compared to an EBITDA of €19 million in the previous year.
In 2014, the company's turnover increased by 3.5 percent to €2.36 billion compared to the previous year. Saarstahl stated that Germany continues to be its main sales market ahead of the EU and third party countries (NAFTA, Asia and the rest of the world). In the given year, the company produced 2.66 million mt of crude steel, up nine percent, while its sales volume increased from 2.17 million mt to 2.36 million mt, both year on year.
According to Saarstahl's statement, the company started 2015 with a good degree of capacity utilization. The market environment remains very demanding, however, the considerable under-utilization of steel capacities in Europe and the world has resulted in increased competitive pressure. Saarstahl expects stable development of sales figures and positive results in the steel bar and wire rod sectors.