Swiss Steel Holding Ltd.

STLN

Equity

ISIN CH1351577726 / Valor 135157772

SIX Swiss Exchange (2024-12-23)

CHF 5.10-8.93%

Swiss Steel Holding Ltd.
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About company

Swiss Steel Holding AG is a prominent player in the steel industry, specializing in the production and distribution of a wide range of steel products. The company's expertise spans across various types of steel, including engineering steel, stainless steel, and tool steel, catering to diverse industrial requirements. With a product portfolio that encompasses everything from finely drawn wire with a diameter of 0.013 millimeters to robust forged bars up to 1,100 millimeters in diameter, Swiss Steel Holding AG demonstrates a remarkable capacity to meet the specific needs of its clients. As one of Europe's leading producers of electrical steel, the company distinguishes itself by offering customized solutions and leveraging its extensive portfolio of special long steel products. The company's manufacturing capabilities are comprehensive, covering the entire spectrum from unalloyed and low-alloy steels to high-alloy special steels, ensuring a broad market reach and reinforcing its position as a key supplier in the steel industry.

Summarized from source with an LLMView SourceSector: Energy

Revenue Decline

In 2023, Swiss Steel Holding Ltd. experienced a significant decrease in revenue, reporting EUR 3,244.2 million, which marks a 19.9% decline compared to the previous year. This downturn reflects the challenging market conditions and reduced demand across key sectors such as automotive and mechanical engineering.

Adjusted EBITDA

Swiss Steel Holding Ltd.'s adjusted EBITDA for 2023 was negatively impacted, recording a loss of EUR -40.9 million. This was primarily due to one-time inventory valuation losses driven by decreasing raw material prices and stabilizing but still high energy costs.

Positive Free Cash Flow

Despite the financial challenges, Swiss Steel Holding Ltd. achieved a positive free cash flow of EUR 85.4 million in 2023. This result was bolstered by effective net working capital management, cost control measures, and proceeds from the divestment of non-core distribution activities.

Shareholders’ Equity and Net Debt

By the end of 2023, Swiss Steel Holding Ltd. saw a significant reduction in shareholders’ equity, which decreased by EUR 296.5 million to EUR 234.4 million, reflecting a substantial negative Group result. Concurrently, net debt slightly decreased by 2.3% to EUR 828.6 million.

Workforce Reduction

Swiss Steel Holding Ltd. reduced its workforce by 10.6% in 2023, decreasing the total number of employees to 8,812. This reduction is part of a broader strategy to streamline operations and enhance efficiency across the Group's remaining entities.

Summarized from source with an LLMView Source

Key figures

-71.7%1Y

%3Y

%5Y

Performance

73.6%1Y

73.6%3Y

73.6%5Y

Volatility