Italian steel group Lucchini RS Spa closed 2020 with consolidated revenues of €404 million for the year, down 4.9 percent compared to 424.7 million in 2019, the company has announced. EBITDA amounted to €50.9 million, registering an increase from €42.1 million in the previous year, while its net profit rose to €24.8 million from the previous year's €18.2 million.
According to the press release, the group "has maintained a robust policy of technical investments that during the year amounted to €21.6 million," and at the same time has improved its level of debt, from €64 million at the end of 2019 to €13.4 million at the end of 2020.
Lucchini RS stated, "The plant in Lovere, Bergamo, which is the group's main production site, autonomously decided to stop all production activities one week before the first national lockdown in March last year, in order to guarantee the safety of its personnel, adopt all the preventive measures indicated by the Italian government and be able to restart its business with greater safety in April." This made it possible to "guarantee customers continuity of supply, in particular of the material destined for railways all over the world, also through the network of subsidiaries in various geographical areas." Once activity was resumed, "it was possible to recover the lost outputs, continue with the efficiency and investment programs, and achieve positive financial results," the company said
Lucchini RS Spa is an Italian company, fully owned by the Lucchini Family. It specializes in steel products such as railways products, steel casting, forgings, tool steels and forge ingots.