HIGHEST LEVEL OF ORDERS RECEIVED IN A DECADE BY GERMANY'S STEEL GROUP

4 July, 2022 by
Administrator

The equipment manufacturing company SMS group, with its headquarters in Germany, nearly doubled its order intake to reach EUR 3.507 billion (USD 3.66 billion) in the 2021 fiscal year, marking the highest level in ten years.

Catch-up effects following the COVID-19 pandemic's slump the previous year and the rising demand for decarbonization and recycling technologies are the causes of this significant increase.

The schedules for acceptance were delayed by the pandemic, and as a result, the 2021 fiscal year ended with sales that were 6.8% lower than the previous year, or EUR 2.559 billion (USD 2.67 bln).

EBT, or earnings before taxes, was EUR 87 million (USD 91 mln). With this outcome, SMS is once again experiencing profitable growth following the pandemic.

Over the next few years, SMS anticipates a noticeable and sustainable increase in incoming orders as well as an improvement in results. Even with the Russia-Ukraine war in mind, it is anticipated that order intake in 2022 will stabilize at the level of the prior year.

The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only.

Share this post
Archive