Scholz AG closed out 2012 with consolidated revenues down 11 per cent to €4.7bn. Earnings before interest, taxes and amortisation (Ebitda) decreased from €246.6m to €191m. Pre-tax earnings dropped by more than three quarters to €13.8m, according to the preliminary finan-cial report Scholz published on Monday.
The generally soft economy in 2012 had been apparent above all in a renewed decline in European steel production in the fourth quarter explained Scholz. As a result, the ferrous and non-ferrous metals recycling concern had had to cope with a further decrease in intake volumes. In the year ended 31 December, Scholz had taken delivery of only 9.9 million tonnes of secondary raw materials. This represented a drop of 1 million tonnes compared with 2011.