Terni, Italy-based stainless steel producer ThyssenKrupp Acciai Speciali Terni (AST), a subsidiary of German steel producer ThyssenKrupp, has announced a net profit of €87 million for the last fiscal year (ended September 30), compared to the net profit of €3 million recorded in the previous year. Meanwhile, the company's turnover amounted to €1.674 billion. "AST has closed the fiscal year with important numbers, which indicate better than any words the positive period the company is experiencing - a year in which it has dealt with significant challenges and changes. Our net profit confirms that our strategy is right, that the repositioning of AST in the global market is bearing fruit, and also that the company is operating in relative serenity in a still-difficult steel market," the company said in its statement.
In the past fiscal year, AST's liquid steel production rose to 958,900 mt, up 17,000 mt year on year, while its finished products production increased by 19,000 mt year on year to 861,300 mt. Shipments remained almost stable at 848,000 mt, just down 3,000 mt year on year, while investments increased by €13.8 million year on year to €58.2 million.
Meanwhile, company CEO Massimiliano Burelli, speaking at the Italian Ministry of Economic Development, stated that there have been no expressions of interest for the possible purchase of AST, adding that, even if there were, he could not say so, because AST is a listed company. As reported previously, in late November ThyssenKrupp confirmed its plans to sell the Italian stainless steel plant, which has been part of the Germany-based steel group since 2001.