Acciaierie d’Italia increases turnover

Acciaierie d’Italia (ADI) sold 3 million tonnes of finished products in 2022, of which 76% was sold in Italy, 9% in Spain, 5% in Germany, 2.3% in France and 2% in Turkey, the steelmaker revealed in its sustainability report released last week.

The group produced 3.5 million tonnes of crude steel in 2022 and 3.3mt of pig iron, it says in the report issued during Made In Steel in Milan.

Of the 2.6mt of coil and its derivatives sales, 77% were domestic and 23% abroad. Plate sales were 243,617t, with 65% domestic, while 94% of the 175,100t slab sales were domestic. Of the coil sales, cold rolled and coated coil represented 1.4mt, while over 1.1mt were hot rolled coil and pickled. 80% of shipped volumes in Italy went to the north of the country, Kallanish notes.

Last year, ADI generated revenue of €3.9 billion ($4.2 billion) and a positive Ebitda of €327 million.

“Despite the extraordinary increase in the cost of energy, especially with the price of gas which increased in 2022 by about seven times compared to the values ​​of January 2021, the financial statements closed with a net profit of €84.6m. During the year, the Group also made significant investments (€440m) focusing on the technological innovation of the production process, on the revamping of the main plants and on environmental investments,” the report says.

The total budget in 2022 for environmental works amounted to €1.8 billion. The steelmaker has almost completed the necessary works, an informed source says, and adds that the steelmaker has started “moving in the direction of restarting blast furnace no.2”.

In 2021, ADI posted a turnover of €3.3 billion, up from €1.6 billion in 2020. In 2021, it produced 4.1mt of crude steel, an increase from 3.4mt in 2020.

ArcelorMittal owns 62% of ADI, while the remaining 38% is held by state-owned investment vehicle Invitalia. According to the 2020 agreement between the two partners, Invitalia’s shareholding in the steelmaker will be raised to 60% next year (see Kallanish passim).

According to an unconfirmed rumour, the state does not plan to keep the majority indefinitely. It is considering the possibility to involve a partnership of Italian steelmakers that may guarantee the steelmaker’s good performance and relaunch of one of the largest steel plants in Europe.

Natalia Capra France