Metalcorp Group proves its resilience in a challenging environment in the first quarter 2020

Luxembourg, 4 May 2020 – Metalcorp Group S.A., a globally operating service provider for the procurement, logistics and trading of steel and non-ferrous metals, as well as a leading independent producer of secondary aluminium slabs in Europe, faced a challenging, but in summary, a satisfactory Q1 2020. The company’s priority was to ensure the safety of its people and maintain operations at the same time. Metalcorp is grateful for the tremendous effort of its teams and the support of its customers and suppliers which enabled the Group to achieve this.

In Q1 2020, Metalcorp realized a revenue of EUR 128.8 million (versus EUR 134.1 million in Q1 2019) and an EBITDA of EUR 7.7 million (versus EUR 8.0 million in Q1 2019). The risk averse business model thus proved again to be the right strategy in challenging markets.

Metalcorp kept its production facilities open with the aluminium plants in Germany operating at high production levels. Only the copper facility in Spain, despite high demand, was closed for sanitary reasons for two weeks. Lost production will be compensated by cancelling the usual holiday closure in August.

Trading was very resilient apart from automotive supply that was impacted by the closure of the European car manufacturers but which was compensated by additional raw material trades.

Metalcorp has used the period of confinement to prepare a number of initiatives that will profit from the changed environment. Based on current estimations, the company expects in FY 2020 an EBITDA in line or above 2019.

 

About Metalcorp Group S.A.:

Metalcorp Group is a globally operating provider of procurement, logistics and trade services in the ferrous and non-ferrous sectors as well as one of Europe’s leading independent producers of secondary aluminium ingots. Its core competence in all segments are so-called back-to-back transactions requiring no stock-keeping, which make the Group’s operations largely immune to price risks and neutralise other trading risks. With its subsidiaries and own offices the Group operates in 18 countries around the world and has four production facilities in Europe. The 2017/2022 bond (ISIN: DE000A19MDV0) is traded on the Open Market of Deutsche Börse AG (“Freiverkehr” of the Frankfurt Stock Exchange), while the 2017/2022 bond (ISIN: NO0010795701) is traded on the Oslo Stock Exchange.

 

For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25
metalcorp@better-orange.de

Mark Nunes
Metalcorp Group S.A.
+352 2799 0145 55
mnunes@metalcorpgroup.com