Nordwest Handel bumps up steel revenues in 2018

Nordwest Handel, one of two large German purchasing cooperatives for steel and ironware, has posted an all-time record high value for steel sales for the company, Kallanish learns.

2017 had already seen a year-on-year increase of 17%, but revenues in 2018 grew again by 27%, reaching steel sales of €1.2 billion ($1.3 billion). This development was due almost equally to an increase in tonnage sold in all product areas and a higher price level compared with the previous year.  The tonnage increased by 13.5 % compared to the previous year, Nordwest says, without giving a figure.

The reinforcing steel segment continues to be the growth driver.  With the new steel concept ‘Stahlverbund Phoenix’ established last year, Nordwest says it is strengthening its cooperation with specialist trade partners.

Together with its other activities, domestic technology and tools and services for construction and crafts, Nordwest’s revenues rose 21% over 2017, crossing the €3-billion threshold for the first time. Operating profit rose 28% to €10.6 million. For 2019, Nordwest expects growth of 1-10%, depending on the development of the steel business.

The company also announced the appointment of Andreas Ridder as ceo from 1 August until July 2022, succeeding interim ceo Martin Helmut Bertinchamp. Bernhard Dressler had retired from the position prematurely in October 2018.