"2013 has been a good year although not as good as expected, because of the difficulties in the European steel markets and the extra cost in some projects in North Africa and the Middle East" stated Gianpietro Benedetti, chairman and CEO of Italian plantmaker and steel producer Danieli.
For the financial year 2013-14 ending June 30 next year, Danieli indicated that its profit is expected to rise by 15 percent year on year to €2.9 billion, while the company expects an EBITDA margin of 10 percent for the year in question. These figures indicate that Danieli's Udine-based special steel subsidiary Acciaierie Bertoli Safau (ABS) is overcoming its difficulties, due to the recovery of the European market and consequently of the group's profitability. As of June 30, 2014, Danieli's order book is expected to be stable at €3 billion.
The company expects improvements also in 2015, with its profit expected to rise further towards €3 billion. New activities in the aluminum sector will also make a significant contribution to the growth in profitability.
"If this sentiment is confirmed in the coming months, many customers will anticipate investments and Danieli's plants will benefit with positive effects on profitability," Mr. Benedetti commented.