Swiss Steel Group saw a slowdown in activity in Q3 2022

Swiss Steel Group reported revenue of EUR 946.8M for Q3 of 2022, compared with EUR 765.0M in the prior-year quarter, with an increase of 24%. The sales volume decreased by −11% to 364 kilotons, down from 410 kilotons in Q3 2021. Adjusted EBITDA was EUR 9.6M, compared with EUR 41.8M in Q3 2021.
At 364 kilotons, −11.2% less steel was sold in Q3 2022 compared with the same quarter of the previous year (410 kilotons). The decrease was spread across all product groups, with the strongest decrease in stainless steel (−17.6%) but also lower sales volumes for engineering steel (−10.2%) as well as tool steel (−6.3%).
The average sales price per ton of steel was EUR 2,604 in Q3 2022 and therefore considerably higher than in Q3 2021, when it stood at EUR 1,868 per ton. Due to these higher average sales prices, revenue in Q3 2022 increased by 23.8% to EUR 946.8M compared to the same quarter of the previous year.
Adjusted EBITDA was EUR 9.6M in Q3 2022, compared with EUR 41.8M in the same quarter of the previous year, as the Group adjusted its production to the significantly lower market demand.

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