Štore - Štore Steel, a leading Slovenian steel producer, had a record year in 2021 with EUR 144.6 million in revenue, a 69% increase from the year before and 38% above projections. Profit stood at EUR 6 million, compared to a EUR 2.5 million loss in the year before.

Steel sales were 30% higher than in 2020, reaching 145,577 tonnes, which is 7.8% higher than projected. The average price of steel was EUR 991 per tonne, said the CEO Jani Jurkošek for the STA.

Jurkošek estimates that the increased revenue is due to increased prices of iron and alloys, which represent the variable part of the company's prices and to a lesser extent due to the increased prices at Štore Steel.

The company struggled with an unsteady supply of spare parts, increases in energy prices and staff shortages. Productivity fell in the rolling mill with the cold rolling steel production not reaching the projected sales volume.

In 2021 the company invested EUR 4.9 million, which is more than the year before.

The company remains uncertain regarding the energy prices and the war in Ukraine, projecting a EUR 157 million revenue and EUR 6 million profit for this year.

Štore Steel mostly produces custom low- and micro alloy steel, exporting to Germany, Italy, Poland, Czech Republic, Denmark, Austria and China.

After the energy prices increased, the company was forced to increase their prices by 15% with an additional energy markup based on stock market fluctuations.

The prices grew by an additional 20% due to increased prices of raw materials.