Swiss Steel Group (STLN) Q4 2024 TU earnings summary

Executive summary

• Sales volume declined 5.1% year-over-year to 1,056 kilotons in 2024 amid a weak market, with revenue down 14.3% to EUR 2,432 million.

• EBITDA improved to EUR -35.5 million from EUR -102.2 million in 2023, aided by one-time effects and efficiency gains.

• Workforce reduced by 15.5% to 7,450 employees, mainly due to scope changes and capacity adjustments.

• Strategic roadmap 'SSG 2025' advanced, including divestitures and derecognition of Ascometal assets.

Financial highlights

• Net debt decreased to EUR 711.4 million from EUR 828.6 million, supported by a EUR 300 million capital increase and asset sales.

• Shareholders' equity rose to EUR 322.8 million, equity ratio improved to 19.3% from 12.1%.

• Group result was EUR -197.2 million, a 33.1% improvement over 2023.

• Free cash flow was EUR -173.3 million, down from EUR 85.4 million in 2023.

Outlook and guidance

• New financing agreements in Q1 2025 include EUR 150 million additional debt funding and extension of group financings to December 2029.

• Incoming orders in early 2025 show slight improvement, but sustained recovery depends on broader European industrial rebound.