Profil:
Stalprofil SAStalprofil steel estimates PLN 549k net profit in Q4 2024, down 85 pct y/y
Listed steel distributor Stalprofil estimates that in the fourth quarter of 2024 its net profit fell by 85 percent to PLN 549,000 (EUR 132,035), the company said in a market filing.
Sales revenue in the period increased by 66 percent to PLN 374.04 million (EUR 89.96 mln) and EBITDA rose by 182 percent to PLN 1.66 million (EUR 399,230).
Cumulatively, after four quarters of 2024, revenues increased by 13 percent year on year to over PLN 1.04 billion (EUR 251.08 mln), EBITDA rose by 5 percent to PLN 13.4 million (EUR 3.22 mln) and net profit decreased by 27 percent to PLN 9.4 million (EUR 2.26 mln).
According to Stalprofil, the economic climate in the company's two leading markets, i.e. the steel distribution market and gas transmission network contracting services, remained the key factor influencing its performance in the fourth quarter of 2024.
2024 was an exceptionally difficult year for steel producers and distributors. Instead of the anticipated recovery that was expected to come in the second half of the year, the steel industry experienced a continuation of the slowdown, which was confirmed by market data.
On the other hand, the good results achieved by the company in the gas transmission network infrastructure segment were a counterbalance the weak performance of the steel segment. The situation in the domestic gas pipeline construction market in 2024 was significantly better for the company than in the steel market.
After the investment slump in the gas market over the past two years, large tenders for the supply of insulated steel pipes and gas pipeline construction, mainly related to the construction of the onshore part of the FSRU gas terminal, were launched in 2024.
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