At the end of 2024, Celsa had reported losses amounting to €281 million. Since the change in ownership in April 2024, the group’s total debt has been reduced by 48 percent, currently standing at €1.896 billion. However, the management has not ruled out additional asset disposals as it seeks to improve its financial position and return to profitability, which is expected by 2026.
The Huta Ostrowiec facility, located in central Poland, is one of the largest metallurgical plants in the country. It produces rebar and boron steel grades and employs over 2,000 people. The plant accounts for approximately 20 percent of the group’s total revenue.
As previously reported by SteelOrbis, UAE-based Emsteel (formerly Emirates Steel) has shown interest in Celsa’s European assets, including its plants in Poland, the UK, and Norway. According to Spanish media, preliminary talks have begun, although no agreement is expected in the short term.
In April, Celsa completed the sale of 100 percent of its operations in the UK and northern Europe to Czech investment firm Sev.en Global Investments, with the proceeds going toward debt reduction.
The company is also considering refinancing part of its remaining debt. In parallel, a process had been launched for the entry of a Spanish industrial investor, in line with commitments made to the government. However, the holding, CriteriaCaixa, later decided not to proceed with the investment. For now, Celsa has suspended its search for alternative industrial partners but has not ruled out restarting the process in the future.
