Vitkovice Steel returns to profit in Jan-Sept after a long time

Thursday, 25 November 2021 15:21:39 (GMT+3)   |   Istanbul
       

Czech steelmaker Vitkovice Steel has stated that it has returned to profit after a long time. In the January-September period this year, the company achieved a CZK 25 million ($1.1 million) net profit, amid the recovery of steel demand as well as the improving efficiency of its production processes.

The company stated that the outlook is still positive despite the electricity price increase.

Vitkovice Steel recorded a net loss of CZK 267 million in the last full year. The company’s last yearly net profit was achieved in 2017.

Most of the company’s products, such as steel plates, sheet piles, are applied in the building industry and mechanical engineering. 70 percent of the sold products are exported. The key markets of Vitkovice Steel are the EU countries.


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