September 14 (SeeNews) - Slovenian steel group Slovenska Industrija Jekla (SIJ) has recorded a net profit of 52.4 million euro ($52.4 million euro) in the first half of 2022 from 10.0 million euro in the like period of last year, it said.
Net sales grew to 61.7% on the year to 730.4 million euro, whereas production of cast steel edged up 0.7% to 264,465 tonnes, SIJ said in a filing with the Ljubljana Stock Exchange on Tuesday.
Earnings before interest, taxes, depreciation and amortisation more than doubled to 99.4 million euro from 43.6 million euro, as EBITDA margin went up to 13.6% from 9.7%, SIJ said.
Earlier this month, SIJ said it plans to reduce its monthly output by 40% in the fourth quarter of 2022 due to high energy prices.
The SIJ Group is the largest vertically integrated metallurgical group in Slovenia, occupying with its products leading positions on European and global niche steel markets.
($ = 0.99986 euro)