As announced during a press conference held on September 18 at its Lonato del Garda headquarters, Italian steelmaker Feralpi Group confirmed a challenging year in 2024, closing with a higher steel output but with a net loss, amid falling steel prices and rising raw material and energy costs.
Production and financial results
The group produced 2.6 million mt of steel (+6.4% y-o-y), posting revenues of €1.65 billion (down from €1.72 billion in 2023) and a production value of €1.73 billion. EBITDA decreased to €27.6 million (from €83.2 million in 2023), penalized by high energy and raw material costs. After amortization and revaluations of €70.3 million, net income came to a loss of €37.7 million, compared to a profit of €19 million in 2023. Net financial position worsened to €155.5 million (from €45.5 million in 2023), mainly due to high levels of technical investment.
The international breakdown of sales remained stable at 62 percent of the total (61% in 2023), with the EU share at 9.5 percent and growth recorded in Poland and the Czech Republic. Dividends distributed to stakeholders stood at €1.7 billion (+7% y-o-y), with a significant increase also in employment (+10%), bringing the workforce to 1,986 people at year-end (+3.3% y-o-y, including Italy and Germany).
“In a complex macroeconomic environment that has daily repercussions on our companies, we remain convinced that only strong and innovative business models, capable of combining continuity and resilience with the demands of decarbonization and social sustainability, can guarantee competitiveness in the long term,” stated Feralpi Group’s president Giuseppe Pasini. In 2024, the group invested €223 million in technical projects, 80 percent of which had an ESG focus, including the electrification of processes and the production of low-carbon steels.
Feralpi also reported progress in environmental, social and governance (ESG) goals: specific CO₂ emissions fell by 39 percent compared to 2022, while energy and water consumption decreased by 22 percent.
Investments and Sustainability
Among the key investment projects:
- Riesa (Germany): Finalization of the new spooler line at the Feralpi Stahl plant, with a new electric furnace capable of producing up to 8 mt, powered entirely by renewable sources;
- Lonato del Garda (Italy): New spooler line and plant upgrades for water treatment at the steelworks and rolling mill 1, plus the installation of a 437 kWp photovoltaic system;
- Lecco (Italy): Upgrade of the Garrett line at the Calolziocorte plant for special steels, expanding product range and improving quality;
- Calvisano (Italy): New fume extraction system and upgrade of the LF secondary treatment, along with renewable energy projects from photovoltaics.
Outlook
Looking at 2025, in the first half the group recorded an improvement in EBITDA both for construction and special steels. In Germany, revenues grew significantly, though the market remains affected by the structural decline of German steel production (-12 percent in 2024) and the strong pressure from Chinese imports. For the full year, the group expects to return to profit, though uncertainty remains due to demand trends, price volatility, and international trade measures, including safeguard mechanisms and the Carbon Border Adjustment Mechanism (CBAM).