Czech steelmaker Třinecké železárny (TŽ ) has announced its financial results for 2014, reporting a net profit of CZK 3.04 billion ($123.5 million). The company’s sales revenues amounted to CZK 38 billion ($1.5 billion), rising seven percent compared to the previous year, thanks to the growth of market prices of rolled products and steel in 2014. The results also reflected reduction of input costs after the launch of new pulverized coal injection (PCI) technology as well.
Despite the decline of steel consumption by more than 30 percent in comparison with the pre-crisis period in 2007, the long rolled segment with a higher capacity utilization rate is not affected to such an extent as other products, and this is our advantage,” said Tomáš Chrenek, TŽ chairman.
Last year, Třinecké železárny produced 2.5 million mt of steel, with wire rod being the most significant part of the product portfolio reaching a sales volume of 815,400 mt. The company delivered 570,000 mt of steel bars and sections in 2014.
In 2014, steel production in the Czech Republic increased by 3.7 percent year on year. “At present, the Czech steelmaking industry shows stable development with regard to production, consumption and trade. The recovery of the main consumption segments of steel such as the construction, machinery and automotive industries is forecast for the year 2015,” added Ján Moder, vice-chairman of TŽ.