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2016 accounts

Stemcor Global Holdings, a privately held, leading global steel trading and distribution business, is pleased to report financial results for the year to 31 December 2016.

Date:
Location:
London

The Group’s principal activity during the year was the international trading and distribution of steel and steel making raw materials.

2016 Highlights:

  • 4.35 million tonnes of steel and raw material sold;
  • Total revenue decreased 29% to US$1.96bn in 2017 (2015: US$2.76bn) due to the downsizing of a number of less profitable business units and product lines;
  • Gross margin improves to 6.1%;
  • Operating profit of US$28.9m, up 465% from a year earlier; and
  • Group overhead expenditure reduced by 17%

Steve Graf, CEO of Stemcor, commented: “A key part of the Group’s restructuring was the downsizing of a number of less profitable business units and product lines. This resulted in an intentional drop in sales volumes on a year-on-year basis.
“Significant volatility in steel markets led to price reductions across the course of 2015, but there was some recovery within these markets during 2016 which, along with the full year impact of the cost reduction measures, led to an improved gross margin performance.”

STEMCOR

STEMCOR, part of Cedar Global Holdings Group Ltd, is a leading, independently run, service provider for the steel industry. We play a vital role by acting as an intermediary between suppliers and customers.

Contact

STEMCOR
Address:
Stemcor Global Holdings Ltd 28 Esplanade St Helier JE2 3QA Jersey
Phone:
+44 (0)20 7775 3600
Fax:
+44 (0)20 7775 3679