- Preliminary key figures for 2014 confirm low-risk business model and limited exposure to commodity price risk
- Preliminary consolidated earnings before taxes (EBT) improved by 40.0% to EUR 5.6 million
Amsterdam/Berlin, 11 February 2015 – According to preliminary figures, Metalcorp Group B.V., a specialist for the global physical trade in steel and non-ferrous metals and one of Europe’s leading independent producers of secondary aluminium ingots, clearly expanded its business volume in the financial year 2014, with the cost structure remaining almost unchanged. This growth is reflected in much higher quantities but, because of the sharp drop in metal prices in the global commodity market, only to a limited extent in consolidated sales revenues, which were up 6.3% compared to the previous year to EUR 320.6 million.
On the earnings side, Metalcorp Group improved its consolidated key figures compared to the previous year. This growth is primarily attributable to the increased business volume, the risk-adverse business model with almost constant profit margins in back-to-back transactions requiring no stock-keeping and an almost unchanged cost structure. Against this background, preliminary consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 12.7% to EUR 8.0 million in the financial year 2014 (previous year: EUR 7.1 million). Consolidated earnings before taxes (EBT) rose by 40% to EUR 5.6 million (previous year: EUR 4.0 million).
At EUR 252.5 million, the Group’s preliminary total assets remained almost unchanged as of 31 December 2014 (31 December 2013: EUR 247.7 million). The preliminary Group equity ratio amounted to 41.5% on 31
December 2014 (31 December 2013: 45.2%).
Metalcorp Group had a promising start to the year 2015, as the company was able to further improve its raw materials supply through a reverse integration. For this purpose, a 4-year purchase agreement (with a 2- year renewal option) for an annual volume of 1 million tons of iron ore was signed in Mexico. The agreement comprises a fixed percentage remuneration on the sales price, which entirely eliminates price risk from falling iron ore prices. The first iron ore deliveries will take place in Q1 2015.
The audited consolidated financial statements for 2014 are scheduled for publication in March on the company’s website at www.metalcorpgroup.com.
About Metalcorp Group B.V.:
METALCORPGROUP operates in two segments, ‚Steel and NF Metals Trading‘ and ‚Production of Secondary Aluminium‘, where the company focuses on back-to-back transactions requiring no stock-keeping, which makes its operations virtually immune to current price trends in the international commodity markets. Key members of METALCORPGROUP include BAGR Berliner Aluminiumwerk GmbH, a company active since 1997, and the Steelcom Group, whose activities date back to the 1960s. An annual output of roughly 70,000 tons makes BAGR one of Europe’s leading independent producers of high-quality secondary aluminium ingots. Metalcorp Group B.V.’s corporate bond (ISIN: DE000A1HLTD2) has been listed in the Entry Standard for corporate bonds of Deutsche Börse AG’s Open Market (‚Freiverkehr‘ of the Frankfurt Stock Exchange) since June 2013.