ORI Martin's net profit decreases in 2020

Thursday, 23 September 2021 14:13:45 (GMT+3)   |   Brescia
       

Brescia, Italy-based special long steelmaker ORI Martin Spa, has announced its financial results for 2020. Net profit in the period considered amounted to €9.5 million, net of depreciation and provisions for €47.6 million. In 2019 the result had been positive for €15.3 million. Sales revenues in 2020 amounted to €460 million, down 21 percent compared to 2019. The income situation was positive: EBITDA amounted to €45 million, equal to 9.8 percent of turnover, while cash flow of €45.4 million, equal to 9.9 percent of revenues.

Despite the difficult year due to the pandemic, the ORI Martin Group invested around €19 million in fiscal 2020. The interventions involved the modernization of the rolling line, the installation of the new transformer, the installation of new calendars for the reclamation and roll drawing plant, the installation of a new ultrasound system for the quality controls of its own products, a new tying machine, the robotic balance wheel, the new rolling machine and an induction hardening plant for rods, a new roll drawing line and the implementation of the new peeling lines and the Transfer 2 line. The group continued the implementation of the new network infrastructures and the installation of the new MES and management systems. Environmental investments in 2020 represented 18 percent of the group's total investments, in line with previous years. They mainly concerned atmospheric emissions, the treatment of water discharges, the abatement of noise emissions and energy efficiency.

Concerning this year, ORI Martin said that the first half of 2021 was characterized by a massive growth in orders and an even more dramatic increase in the purchase prices of raw materials, in particular scrap, as well as energy. "This phenomenon, which affects all industrial sectors, is having a cascading impact on the sales prices of the various semi-finished and finished products," commented Giovanni Marinoni Martin, Vice President of ORI Martin Spa.


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