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International Internet Magazine. Baltic States news & analytics Friday, 23.08.2019, 06:42

Severstal Distribution metalworking group raises turnover 45% in 2017

BC, Riga, 24.07.2018.Print version
- Latvia’s Severstal Distribution metalworking group generated EUR 415.437 in consolidated turnover in 2017, which was a 45 percent increase against a year before, while the group’s profit doubled to EUR 19.393 mln, according to information available at Firmas.lv, reports LETA.

Parent company Severstal Distribution closed last year with EUR 396.995 mln in turnover, up 42.1%.


The company’s turnover said in the annual report that last year consumption of steel products increased in European markets by 2.9% against 2016 to EUR 162 mln tons. Steel prices were unstable and tended to grow on fluctuating demand on local markets and not actual consumption growth.


By developing its steel delivery service, the group managed to maintain significant sales growth despite the market situation. In 2017, Severstal Distribution Group sold 742,000 tons of steel products at a 9% annual increase.


In the Baltic states, Severstal Distribution increased sales by 14 percent on year to 260,000 in 2017, which ensured 36% of the group’s annual turnover last year. The remaining 46% were generated in Central and Eastern European countries, including Poland, the Czech Republic and Slovakia. In this region, sales remained unchanged from 2016 at 335,000 tons. Meanwhile, sales in Finland and Sweden accounted for 11% of last year’s turnover, or 80,000 tons. Sales in these countries rose 7 percent on year. Sales in other markets made up 7% of the group’s 2018 turnover.


In 2016, Severstal Distribution earned EUR 9.674 mln in profit on a consolidated turnover of EUR 286.61 mln.


Parent company Severstal Distribution made a EUR 7.855 mln profit on a turnover of EUR 279.358 mln in 2016.


Severstal Distribution (formerly Severstallat) was founded in Latvia in 1992. It produces and distributes metal products. Severstal Distribution belongs to Russian public joint stock company Severstal.






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