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Italian Arvedi AST made a profit of 187 million Euros

Acciai Speciali Terni (AST), Italian stainless steel producer and part of Arvedi Group, reported a net profit of 187.3 million Euros for the 2021/2022 fiscal year with a turnover of 3.2 billion Euros.

Italian Arvedi AST made a profit of 187 million Euros

The company's turnover in this period amounted to 3.2 billion Euros. Compared to the previous fiscal year, AST saw a 166% and 245% increase in electricity and natural gas costs, respectively.

According to the financial statements, in the 2021/2022 fiscal year, AST recorded an almost stable supply of stainless steel. In particular, shipments of cold rolled product (Laf) increased 4.6 percent y-o-y to 512 thousand tons, hot rolled product (Nac) shipments amounted to 205 thousand tons, up 4.6 percent y-o-y, pipe shipments decreased 29.8 percent y-o-y to 33 thousand tons.

The company's flat steel sales in this period were mainly concentrated in Italy (approximately 57.4% of the total volume). Supply to the European market was approximately 33.2%, while sales to third countries outside the EU were 9.4%.

The company expects to face challenges related to the global economic slowdown, high inflation and energy crisis in the coming financial year.

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