Ljubljana - SIJ, the Slovenian steel group in majority Russian ownership, returned to profit last year after posting a net loss of EUR 49.9 million in 2020. Last year, sales revenue stood at EUR 962.7 million, up 36.8% from the year before, while net profit reached EUR 29.2 million, the group's audited results show.

The group's earnings before interest, taxes, depreciation and amortisation (EBITDA) almost tripled to EUR 100.8 million gross. EBITDA margin, showing the company's operating profit as a percentage of its revenue, was 5.1 percentage points higher at 10.5%, SIJ said in press release published on the website of the Ljubljana Stock Exchange.

The group, which is present in more than 70 countries and is one of Slovenia's largest exporters, generated EUR 85.2% in sales revenue in foreign markets.

Apart from the planned investments, the group also realised some projects from 2020, allocating a total of EUR 56 million for investment last year.

In February, the group took out a EUR 230 million syndicated loan with seven-year maturity to refinance existing loans, secure additional liquidity reserves for its long-term development, and finance investments into environmental efficiency. The agreement was signed by SIJ's two largest firms, SIJ Acroni and SIJ Metal Ravne, and nine banks under the helm of NLB.

More detailed information on the 2021 business results will be published in the group's audited annual report.