The Czech Republic’s largest steelmaker Třinecké Železárny has announced its financial and operational results for 2024.
In the given year, the company posted a net profit of CZK 316 million ($14.95 million), compared to a net profit of CZK 44 million in 2023, while its sales revenue came to CZK 47.37 billion ($2.24 billion), declining by 4.7 percent from CZK 49.69 billion in the previous year.
In 2024, Třinecké Železárny produced 2.43 million mt of steel, compared to 2.41 million mt in 2023, strengthening its position even under challenging market conditions. Meanwhile, it exported 941,000 mt of steel wire, approximately 471,000 mt of steel bars and profiles, and about 241,000 mt of rails in the given year. Exports accounted for 69 percent of the total sales, while domestic sales accounted for the remaining 31 percent.
“Low demand is harming traditional European producers of high-quality and eco-friendly steel, while the market is massively flooded with cheap products from Asia, North Africa and the Middle East. The negative balance is driven by the enormously high price of energy, and the environmental, administrative and legislative obligations of the European political bureaucracy,” Tomáš Chrenek, chairman of the company, commented.
