Benteler lifted 2021 tube revenue by around 50% year-on-year to €1.1 billion ($1.2 billion), Kallanish learns from the Austrian-German company.
Its Steel/Tube Division accounts for some 15% of consolidated revenue, which rose from €6.4 billion to €7.3 billion last year. Operating profit more than doubled, from €160 million to €332m. The larger Automotive division lifted its revenue by some 10% to €6.2 billion.
The Automotive division had a good start into the year, but from mid-year on was hit by the semiconductor shortage – mainly in the form of call-off cancellations at short notice.
For the Steel/Tube division, the market was above expectations, especially demand in the oil and gas sector, Benteler notes. Despite sharply increased raw material prices, which can only be passed on this year, the division performed profitably in 2021.
Christian Koehl Germany