Cogne Acciai Speciali approves the 2022 Financial Statements: record EBITDA at € 100 million
CEO Massimiliano Burelli: It is the best result ever recorded to date, achieved in a challenging context where our people and a winning strategy made all the difference
With the approval of the 2022 Financial Statements, Cogne Acciai Speciali consolidates and strengthens its own industrial path as a world leader in the production of long stainless steel products and nickel alloys.
Despite the complex international geopolitical situation and the ups and downs of the markets, strongly influenced by the evolution of commodity and energy prices, the company recorded the best performance in its history.
An achievement we are proud of – says Chief Executive Officer Massimiliano Burelli – because it sums up a winning strategy combining professionalism and investments, two of our company's core pillars.
We must highlight that the financial statements approved today are the best set of financial statements ever, which closed with revenues of € 965 million and EBITDA of € 100 million.
This performance shows how pragmatic management, with a clear strategy and concrete and consistent implementation tactics, even in a complex macroeconomic context, can make all the difference.
The investment plan carried out in recent years, the product developments and the process optimisations put in place, together with the previously announced growth plan through acquisitions, will further strengthen our performance.
During 2022, one third of the € 44 million invested was allocated to ESG projects, to continue our mission in pursuit of sustainability, where respect for people and their safety, and attention to the environment and the community we operate in are the basic ingredient of our success.
Going into the details of the financial documents is Alex Laganà, CFO at Cogne Acciai Speciali: In the consolidated financial statements approved today we find a highly significant figure for the company: a 17 percent increase in EBITDA compared to the previous year. This value, which is determined before the calculation of interest, taxes, depreciation and amortisation, is equal to € 100 million 300 thousand.
The year closed with income before taxes of over € 59 million and net income of € 50 million 847 thousand.
It should also be noted that the Cogne Acciai Speciali group recorded an overall increase of 78 units in 2022 with regard to human resource capital, going from a workforce of 1,413 units to 1,491.
As far as safety is concerned, in 2022 the company recorded all-time low severity and frequency indexes for accidents, which are only partially satisfactory results since the goal is to have zero accidents, and which are below the national averages for steel plants similar to our facility.
The press office
28/04/2023
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