Italian steelmaker reports strong growth

Italian steelmaker reports strong growth

Leading Italian steelmaker Gruppo Beltrame has reported strong EBITDA growth and an improved financial position for the year 2015.

The company generated 1.05 billion Euros in revenue and posted a steady increase in EBITDA amounting to 63.8 million Euros when compared to 30.6 million Euros in 2014.

Gruppo Beltrame’s operating profit doubled from 6.1 million Euros in 2014 to 12.2 million Euros in 2015.

Under the leadership of its new CEO, Riccardo Garré, Gruppo Beltrame has pushed ahead with its 2013 restructuring plan and claims it has ‘significantly boosted efficiency and streamlined operations by integrating manufacturing sites and implementing strict sales policies.

“The results of 2015 exceeded expectations and vindicated not only the corrective actions taken, but also our focus on enhancing our offering by expanding the product range and improving customer service,” Garré said.

Gruppo Beltrame is a leading European producer of merchant bars and reports year-on-year sales growth of 3.5% and rising margins in its Europe and Mediterranean markets.

The company’s Italian manufacturing sites put in strong performances, boosting profitability, and there were ‘considerable profitability gains’ at Beltrame’s Trith Saint Legér plant in northern France. The company’s Swiss manufacturing facility retained its market-leading position.

Gruppo Beltrame has pushed ahead with its restructuring plans and will fuel future growth with a 26 million Euro investment targeting its steel manufacturing plants.