Metalcorp Group proves its resilience in a challenging environment with a successful 9-month period of 2020
- Mining activities in Guinea started in November 2020
Luxembourg, 30 November 2020 – Metalcorp Group S.A., a globally operating service provider for the procurement, logistics and trading of steel and non-ferrous metals, as well as a leading independent producer of secondary aluminium slabs in Europe, faced a challenging, but in summary, a satisfactory 9-month period up to 30 September 2020. The company’s priority was to ensure the safety of its people and maintain operations at the same time. Metalcorp is grateful for the tremendous effort of its teams and the support of its customers and suppliers which enabled the Group to achieve this.
In the 9 months up to 30 September 2020, Metalcorp realized a revenue of EUR 324.9 million (previous year: EUR 415.1 million) and an EBITDA of EUR 22.1 million (previous year: EUR 24.9 million). The risk averse business model thus proved again to be the right strategy in challenging markets.
The activities picked up significantly in the third quarter as well in production as in trade. Despite the severe COVID-19 restrictions Metalcorp Group succeeded to build its mining operations in Guinea and related infrastructure including a dedicated export port terminal. The mining activities started in November 2020 and the first shipment will take place at the end of January 2021.
Based on current estimations, the company expects in FY 2020 an EBITDA in line with 2019. Metalcorp has used this period of market dislocation to prepare a number of initiatives that will profit from the changed environment.
About Metalcorp Group S.A.:
Metalcorp Group is a globally operating provider of procurement, logistics and trade services in the ferrous and non-ferrous sectors as well as one of Europe’s leading independent producers of secondary aluminium ingots. Its core competence in all segments are so-called back-to-back transactions requiring no stock-keeping, which make the Group’s operations largely immune to price risks and neutralise other trading risks. With its subsidiaries and own offices the Group operates in 18 countries around the world and has four production facilities in Europe. The 2017/2022 bond (ISIN: DE000A19MDV0) is traded on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange), while the 2017/2022 bond (ISIN: NO0010795701) is traded on the Oslo Stock Exchange.
For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
Metalcorp Group S.A.
+352 2799 0145 55