Stainless steel recycler ELG Haniel books sharp drop in 2012 revenues and profits

Standort von ELG Haniel in Duisburg
Quelle: ELG Haniel
17.04.2013 − 

German stainless steel recycling group ELG was able to maintain its sales volumes in the year 2012 at 1.3 million tonnes, but the soft economic climate had a negative effect on nickel demand and prices. As a result, the stainless steel recycling activities’ revenues declined by 13 per cent compared to the year before to €2.364bn, according to the annual report of parent company Franz Haniel & Cie GmbH. Operating profits crumbled by 35 per cent, reaching only €53m.

Despite the persistent uncertainty with regard to the macroeconomic climate and the continuing low levels of scrap availability, ELG expects to see a modest rise in revenues and earnings in the single-digit percentage range in the current year. As part of its growth strategy, the company intends to strengthen its market position in Europe and the Americas, while in Asia, its focus is on expanding its purchasing activities.

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