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Italy’s Feralpi Group announces investments and results for 2023

Friday, 26 July 2024 14:40:32 (GMT+3)   |   Brescia
       

In 2023, Italy’s Feralpi Group invested €169 million in the efficiency and electrification of its production processes in Italy and Germany, reaffirming its commitment to sustainability and emissions reduction. Despite a decline in revenue compared to the previous year due to high energy prices and a shortage of scrap metal, the group maintained stable production volumes at 2.4 million tons, with a total net profit of €18.9 million and net assets of €996 million.

The group’s Scope 1 and Scope 2 emissions were reduced by 24 percent in 2023, confirming the emission reduction targets for 2030 approved by SBTi, the global corporate climate action organization. The group said it is committed to reducing specific emissions by 50 percent and absolute Scope 3 emissions by 25 percent, contributing to keeping global warming below 1.5 °C.

The group’s consolidated financial statements for 2023 record revenues of €1.733 billion, down 27 percent from 2022, and an EBITDA of €83.2 million. Its net financial position remains positive, with a cash surplus of €15.3 million. The group also increased its number of qualified personnel, creating 71 new qualified jobs, and launched the "SteelWomen" project to promote female employment in technical production areas.


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