Italian headquartered plantmaker, Danieli & C reported the results of their financial year to June 2013 at a gathering at their headquarters in Buttrio, N Italy on 19 October.

While revenue was down –10% at €2782.3M compared with 2012 (€3081.1M), and EBITDA down –8% at €277.5 (€303.0 in 2012), the net worth of the company increased 10.4% to €1427.266M.

Addressing a packed meeting of shareholders and guests, Gianpietro Benedetti, Chairman & CEO said the company had met its target in terms of budget and market share and the investment plan embarked on two years ago had been completed. Also, the second half of the year had seen some recovery in the European market, which had also helped Danieli’s steelmaking Division, Acciaierie Bertoli Safau (ABS), which makes special steel long products, to improve its results.

One of the main investments had been the building of a new Research Centre just across the road to the main workshops, and this building was officially opened following the results. Other investments included an expansion of the workshops, opening of additional overseas workshops and engineering offices in India and Russia and a growth in the Company’s Academy to train junior employees and refresh older ones.

Continuing its expansion by acquisition, Danieli purchased Riverside in USA during the year a company specialising in the building of scrap fragmentation machinery.

Mr Benedetti also announced the Group’s ‘Vision 2018’ strategic investment plan which entails investments of €300-350M in each of its plant building and steelmaking segments. At the current count, Danieli has 21 plant building or service companies covering the complete portfolio of integrated and minimill steelmaking and also increasingly the aluminium industry. The order backlog currently consists of 34% long products, 21% Flat products, 19% Steel Meltshop, 6% steelmaking and 20% ‘Others’.

The steelmaking division consists of two electric arc special steelmaking plants, one near Buttrio and the other in Sisak, Croatia; a cold finishing bars plant near Buttrio, and a R&D centre in Metz, France as well as sales and support offices in Germany and Sweden.

Steelmaking results were down on 2012 with net revenue at €686.432M, down –23.0% on 2011/12 and net profit saw a -69.6% drop to €10.567M.

ABS in Italy produced close to 1Mt of steel in FY 2012/13 while the Croatia plant has had investments to bring its capacity to 300-350kt/y.

Danieli increased the numbers directly employed by 9.0% during the year to 10944.

Gianpietro Benedetti, Chairman & CEO Danieli & Co