SCHMOLZ+BICKENBACH achieves annual targets

SCHMOLZ + BICKENBACH has reported a 16.5% increase in sales volume for 2018 to 2,093 kilotons, up from 1,797 kilotons in 2017. Revenue rose to EUR 3.313bn, 23.7% higher than in the previous year (2017: EUR 2.678bn) thanks to the Ascometal Business Unit, which has been part of the Group since February 1, 2018, and higher sales prices. Adjusted EBITDA increased by 6.3% to EUR 236.7M, after EUR 222.7M in 2017, and EBITDA by 17.0 % to EUR 251.4M, after EUR 214.9M in the previous year. The over-proportional increase in EBITDA is based on the bad-will of EUR 45M resulting from the Ascometal acquisition. Group result amounted to EUR –0.7M after EUR 45.7M in the full year 2017. The decline was caused by an impairment of EUR –108.6M before taxes or EUR –81.1M after taxes on the net assets of the Finkl Steel Business Unit. Implementation of the turnaround plan for Finkl Steel has already begun.

The main focus of SCHMOLZ + BICKENBACH in 2019 will be on the next steps in the industrial integration of Ascometal. The takeover has created the conditions for further strengthening the market position of the company in the medium to long term. It intends to consistently exploit this opportunity while at the same time working on efficiency, profitability and optimization of inventories. A further focus will be on measures to improve the earnings position of Finkl Steel.

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