Cremona, Italy-based steelmaker Arvedi Group has announced its financial results for 2011. Its consolidated sales revenue increased by 29 percent or €527 million year on year to €2.345 billion. The company's EBITDA rose 41 percent to €231.2 million, while the EBITDA margin reached 9.9 percent compared to nine percent in 2010.
Arvedi Group's net profit in 2011 amounted to €25.9 million despite €106.1 million spent on amortizations, while in 2010 the company had suffered a €4 million net loss.
According to the press statement released by Arvedi Group, the positive financial trend was allowed by improving steel markets (especially in the first half of 2011), both on the price side and on the demand side. Moreover, the company adopted a commercial strategy aimed at increasing supplies of high quality and high added value products to the most dynamic non-EU markets.
The financial forecast of Arvedi Group for the current year is more cautious compared to last year's results due to the bad sentiment in the steel market in general. However, as stated by the company, starting from January 1, 2013 all of the company's plants - hot rolling mill, cold rolling mill and finishing lines - will be cleared for 100 percent production capacity exploitation.