CELSA’s sales volume increased by 3.2% year-on-year to 4.346 million tonnes in 2025. Consolidated revenue stood at EUR 3.347 billion, while EBITDA rose 44% to EUR 396 million. The EBITDA margin stood at 12% in 2025, increasing to 16% in the first quarter of 2026.
Debt falls 48%
CELSA’s net debt declined from EUR 2.243 billion in the first quarter of 2025 to EUR 1.173 billion in the first quarter of 2026, representing a 48% year-on-year reduction.
Following its comprehensive debt refinancing in December 2025, the company reduced its net debt by 70% compared with pre-restructuring levels. The annual financial cost was also reduced by approximately EUR 80 million.
EUR 183 million invested in 2025
CELSA Group invested EUR 183 million in 2025, up 60% year-on-year. The company described this as the highest level of capital investment in its recent history.
Investments were directed across the Group’s operations, particularly its production facilities in Spain, with a focus on strengthening vertical integration. A new rebar processing centre in Miranda de Ebro is scheduled to start operations in September 2026, with an initial processing capacity of 8,000 tonnes per year.
CELSA also invested more than EUR 35 million in safety initiatives at its production centres and EUR 32 million in R&D over the past two years.
Value Creation Plan exceeds target by 44%
Under the Value Creation Plan launched in June 2024, CELSA had generated EUR 115 million in EBITDA improvements by December 2025. This was 44% above the EUR 80 million initially targeted for the period.
The company has also raised its target for additional annual EBITDA to EUR 174 million. The programme currently includes 263 initiatives and involves 110 employees across the organisation. A total investment of EUR 109 million is planned, fully funded by the company’s current shareholders.
CELSA strengthens focus on low-emission steel
CELSA further strengthened its sustainability and circular production strategy in 2025. In December, the company approved its new 2030 Sustainability Roadmap, structured around four pillars: environment, circularity, people and governance.
The company’s new 2030 decarbonisation targets were validated by the Science Based Targets initiative (SBTi) as being aligned with the Paris Agreement and scientific recommendations. CELSA’s climate change management was also rated A- by the Carbon Disclosure Project (CDP).
CELSA produces low-emission circular steel by recycling ferrous scrap in electric arc furnaces and states that it operates one of Europe’s largest circular steel supply chains.
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