Switzerland-based steelmaker Swiss Steel Group has announced its financial and operational results for 2024.
In the given year, the company reported a lower net loss of €197.2 million, compared to a net loss of €294.8 million in the previous year, while its sales revenues totaled €2.51 billion, down by 22.6 percent year on year, due to its lower sales volume.
In 2024, the company’s sales volume, excluding Ascometal, decreased by 4.1 percent year on year to 1.05 million mt.
According to its statement, the company continued to adapt its strategy to safeguard long-term stability against the global economic slowdown. 2024 marked the second consecutive year of industrial recession in parts of Europe with significant consequences for industrial production, which declined.