The Group’s principal activity during the year remained the international trading and distribution of steel and steel making raw materials.
2022 Highlights:
- Sourcing and delivery of 2.5mt (FY2021: 3.1 mt) of steel and raw materials during the year, reduction mainly due to supply chain disruption arising from the war in Ukraine
- Total revenue of US$2.4bn in 2022 (FY2021: US$2.3bn) impacted by:
- periods increased price given the war in Ukraine
- higher proportion of steel product shipments
- Gross Profit of US$116m (FY2021: US$125m)
- EBITDA(1) for 2022 of US$47m (FY2020: US$56m)
- Profit before tax(2) of US$31.5m (FY2021: US$43.9m)
- Net assets increase to $190m
The Group’s Annual Report and Financial Statements for year ended 31 December 2022 can be seen here.
1. Operating profit before depreciation and amortisation
2. Profit before taxation and movements on financial assets and liabilities at fair value through the profit and loss