Swiss-based special steel producer and distributor Schmolz+Bickenbach has announced its financial results for 2012, reporting a net loss for the period.
In 2012, Schmolz+Bickenbach registered a net loss of €158 million, compared to a net profit of €42.7 million in the previous year. The company's sales revenues amounted to €3.58 billion, falling 9.2 percent year on year. The development of revenue in the individual regions differed widely. In Europe, total revenue declined by 12.9 percent, while in North America and the rest of the world there were substantial increases in revenue of 15.5 percent and seven percent respectively; however, growth also weakened noticeably in these regions in the second half of the year.
Regarding 2013, Schmolz+Bickenbach expects its sales volume and revenue to remain at 2012 levels. However, in the first quarter of 2013, the difficult market conditions of the second half of 2012 are expected to continue. A recovery of demand is only expected from the second quarter of 2013, which should then become stronger in the second half of the year. According to Schmolz+Bickenbach, its investment requirement in 2013 is expected to be around €100 million. The investment amount for 2012 was €141 million.