Swiss Steel Holding Ltd.

BBG000BMLG54

Equity

ISIN CH0005795668 / Valor 579566

SIX Swiss Exchange (2024-05-28)

CHF 0.077%

Swiss Steel Holding Ltd.
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About company

Swiss Steel Holding AG is a leading producer of engineering steel, stainless steel, and tool steel, offering a wide range of products from drawn wire to forged bar diameter. The company is known for its comprehensive portfolio of special long steel products, including electrical steel, and has the necessary facilities to manufacture a variety of special steels. With a focus on customized solutions, Swiss Steel Group caters to a diverse range of industries with its high-quality steel products.

Summarized from source with an LLMView SourceSector: Energy

Revenue Decline

Swiss Steel Holding Ltd. reported a revenue of EUR 3,244.2 million for the full-year 2023, marking a significant decrease of 20% compared to EUR 4,051.4 million in 2022. This decline was attributed to weak market demand and reduced sales volumes across all major geographical markets.

Sales Volume Reduction

The sales volume for Swiss Steel Holding Ltd. in 2023 was 1,375 kilotons, a 17% decrease from 1,663 kilotons in 2022. This reduction was particularly pronounced in the second half of the year, reflecting the challenging market conditions and decreased demand from key sectors.

Adjusted EBITDA

Swiss Steel Holding Ltd. reported an adjusted EBITDA of EUR – 40.9 million for 2023, a sharp decline from EUR 217.0 million in 2022. This negative result was due to weak markets and significant one-time losses, including inventory valuation losses and restructuring expenses.

Free Cash Flow

Despite the challenging financial performance, Swiss Steel Holding Ltd. achieved a positive free cash flow of EUR 85.4 million in 2023, compared to EUR – 53.7 million in 2022. This improvement was driven by strong net working capital reduction efforts and proceeds from divestments.

Net Debt and Equity

At the end of 2023, Swiss Steel Holding Ltd.'s net debt was slightly lower at EUR 828.6 million, compared to EUR 848.2 million at the end of 2022. However, the Group's equity decreased to EUR 234.4 million, corresponding to an equity ratio of 12.1%, primarily due to the negative Group result of EUR – 294.8 million.

Summarized from source with an LLMView Source

Key figures

-42.5%1Y

-82.9%3Y

-83.7%5Y

Performance

68.0%1Y

57.7%3Y

53.7%5Y

Volatility