Swiss-based special steel producer and distributor Schmolz+Bickenbach has announced its financial results for the second quarter and the first half of the current year.
In the second quarter, due to the loss from its discontinued operations, Schmolz+Bickenbach recorded a net profit of €4.8 million compared to a net profit of €22.8 million in the corresponding quarter of the previous year. In the second quarter, the company’s sales revenues decreased by 2.2 percent to €723.2 million, while its sales volume amounted to 469,000 mt, down by 2.3 percent, both on year-on-year basis.
In the first half of the current year, the company registered a net loss of €117.6 million, compared to the net profit of €35.2 million in the first half of the previous year. The company's sales revenues amounted to €1.48 billion, declining slightly by 0.09 percent year on year, with the sales volume decreasing 2.85 percent year on year to 952,000 mt.
Schmolz+Bickenbach stated that the estimates for steel consumption carry a negative sign, and so the company sees these estimates as presenting considerable uncertainties for the development of its further earnings. Its expectations for 2015 as a whole therefore remain cautious.