Slovenia-based steelmaker Slovenian Steel Group (SIJ Group) has announced that its key subsidiaries, SIJ Acroni and SIJ Metal Ravne, have secured an additional €25 million financing package from leading banks, including NLB d.d., UniCredit Banka Slovenija d.d., OTP banka d.d., and SID Bank. The agreement aims to reinforce the group’s financial stability amid growing challenges in the European steel sector.
Market pressures from imports, tariffs and energy costs
The European steel industry continues to face mounting pressure from increased Asian imports, US tariff policies and high energy costs. For SIJ Group, these external challenges have directly impacted profitability and output.
In the first half of this year, SIJ Group recorded a net loss of €23.8 million, while its sales revenues decreased by 11.0 percent to €518 million, both on year-on-year basis. In addition, the company produced 248,100 mt of steel in the first six months, declining by six percent.
In the given period, SIJ Group’s EBITDA amounted to €20.6 million, compared to €42.2 million recorded in the first half of 2024, due to changed business circumstances.
Long-term strategy and refinancing talks
Despite these headwinds, SIJ Group confirmed it is continuing constructive discussions with its banking partners to develop an integrated long-term refinancing solution. The goal is to establish a stable financial platform that ensures sustainable operations even under volatile market conditions.
With the new financing, SIJ Group emphasized its commitment to meeting all contractual obligations, managing operations responsibly, prioritizing long-term sustainability and protecting employee social security.