Posted on 30 Sep 2021
Italian technology maker Danieli expects to benefit from positive demand in the coming years, spurred by the ongoing post-pandemic economic recovery and environmental investments made by steelmakers.
Danieli’s plant-making segment results in the 2020/2021 fiscal year exceeded the budget forecast of the group. The firm says it is now aiming at becoming market leader in the flat products sector, having already achieved this in longs.
The challenge for steelmakers to drastically cut CO2 emissions in the next ten years will support its plant-making segment further. “Danieli has invested a lot in innovative technologies that allow green steel production,” the company says in a report seen by Kallanish. “The plantmaking segment will benefit in the next two or three years from the strong profits that our customers are accumulating and that they will invest both to improve competitiveness and to reduce CO2 emissions, in line with the principles of the European program Fit for 55.”
Danieli Group saw consolidated revenue hit €2.7 billion ($3.14 billion) in the fiscal year through June 2021, down 1% year-on-year. Net profit was nevertheless up by 28% to €80.2 million. The plant-making segment specifically saw revenue decrease 14% to €1.8 billion and net profit was down 14% to €62.6m.
Source:Kallanish
