In the first three quarters of 2014 the earnings before taxes (EBT) were higher than in the same period last year (14.0 to 9.5 million euros). Earnings before interest, tax, depreciation, amortisation and shares in profits of associated companies (EBITDA) totalled 32.4 million Euros, after 31.3 million Euros for the comparative period in the last year. Turnover totalled 1,176.0 million Euros (last year: 1,301.4 million Euros).
Dr Axel Schweitzer, Chairman of the Administrative Board of Alba SE, made the following comments concerning the presentation of the figures for the third quarter of 2014: “The figures show that despite the wider economic conditions being difficult, in operational terms things are improving. We have held our position well in the markets in which ALBA SE and its subsidiary companies operate. The interfacing of the steel and metals recycling segment with the waste management and recycling divisions of the ALBA Group and the associated leaner structures are showing effect, as well as the optimisation of our portfolio.”
In the first nine months of 2014, the Alba SE group has continued to operate in a challenging market environment. While the services segment was characterised by extremely intense competition, the scrap sector was unable to benefit from the slightly positive growth in the steel industry. The low iron ore prices saw production focusing more strongly on classic steel production with iron ore. However, the tonnages traded by the ALBA SE group in both scrap steel and non-ferrous metals were slightly above the volumes when adjusted for sales of companies in the comparison period last year.
Due to the leaner structures from the interfacing of the steel and metals recycling segment with the waste management and recycling divisions of the ALBA Group and the optimisation of the portfolio a positive EBITDA is expected in the segment at the end of the financial year.
In the services segment the management team is expecting lower EBITDA than in 2013. This is due to the sustained levels of intense competition with further increases in pressure on the margins.
All in all, for the 2014 financial year Alba SE is expecting a fall in turnover and an increase in EBITDA.
