Amsterdam/Berlin, 6. August 2014 –According to preliminary figures, Metalcorp Group B.V., a specialist for the global physical trade in steel and non-ferrous metals and one of Europe’s leading independent producers of secondary aluminium ingots, reported strong growth in business volumes, revenues and earnings for the first half of 2014. Revenues in the first six months of the year amounted to EUR 172.5 million, compared to EUR 119.4 million in the same period of the previous year (+44.5%). Earnings increased at a clearly disproportionate rate, with earnings before interest, taxes, depreciation and amortisation (EBITDA) climbing from EUR 2.7 million to EUR 4.7 million (+74.1%). Earnings before interest and taxes (EBIT) more than doubled compared to H1 2013 to EUR 4.4 million.
Victor Carballo, CEO of Metalcorp Group B.V.: “We are very satisfied with the business trend in the first six months of the year and remain optimistic about the remaining course of the year. We were able to further expand our business volume not least thanks to the fact that we increased our bond to EUR 31.24 million in the first half of the year. This has once again proven the viability of our low-risk business model of fixed margins in back-to-back transactions requiring no stock-keeping.”
The preliminary figures for the first six months already reflect the fact that Metalcorp has decided to quit its 41% interest in Tamarix NOA S.L, Spain. Tamarix generated revenues of EUR 298 thousand and a loss of EUR -178 thousand attributable to Metalcorp in the first half of the year. Victor Carballo: “In view of these figures and the ongoing disputes with a co-shareholder, we have decided to seize other opportunities in the non-ferrous metals sector. We will continue our strategy of diversifying our own portfolio, especially the secondary production of non-ferrous metals.”
Note: Metalcorp Group’s interim report will be published at the end of August 2014.
About Metalcorp Group B.V.:
METALCORPGROUP operates in two segments, ‘Steel and NF Metals Trading’ and ‘Production of Secondary Aluminium’, where the company focuses on back-to-back transactions requiring no stock-keeping, which makes its operations virtually immune to current price trends in the international commodity markets. Key members of METALCORPGROUP include BAGR Berliner Aluminiumwerk GmbH, a company active since 1997, and the Steelcom Group, whose activities date back to the 1960s. An annual output of roughly 70,000 tons makes BAGR one of Europe’s leading independent producers of high-quality secondary aluminium ingots. Metalcorp Group B.V.’s corporate bond (ISIN: DE000A1HLTD2) has been listed in the Entry Standard for corporate bonds of Deutsche Börse AG’s Open Market (‘Freiverkehr’ of the Frankfurt Stock Exchange) since June 2013.