The Group’s principal activity during the year remained the international trading and distribution of steel and steel making raw materials.
2024 Highlights:
- Against the backdrop of a very challenging global trading environment, sourced and delivered 2.8mt (2023: 2.8mt) of steel and raw materials
- Total revenue of US$1.8bn (2023: US$2.0bn) impacted by:
- A declining price environment throughout the year and across all markets, and
- Geo-political factors creating market uncertainty, coupled with further trade restrictions
- Despite the weakness in key trading markets, Stemcor managed to navigate the challenging economic landscape successfully, and the performance of the Group was stronger than the external environment implied
- Gross Profit of US$78m (2023: US$113m)
- EBITDA(1) of US$27m (2023: US$51m)
- Profit before tax of US$11m (2023: US$20m)
- Net assets increased to US$209m (2023: USD$208m)
The Group’s Annual Report and Financial Statements for the year to 31 December 2024 can be seen here
Footnote 1: Operating profit before exceptional items, depreciation and amortisation.