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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Swiss Steel Group
Swiss Steel Group (STLN) investor relations material
Swiss Steel Group has been delisted
Swiss Steel Group H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2024 earnings summary18 Mar, 2025
Executive summary
Navigated a challenging 2024 with weak demand in key sectors, rising costs, and economic headwinds, especially in Europe.
Sales volume declined 5.1% year-over-year to 1,056 kilotons; revenue down 14.3% to EUR 2,432 million (excluding Ascometal).
Comprehensive cost and capacity measures included a planned reduction of 800 full-time positions and divestment of non-core assets.
Strengthened capital base with a EUR 287.8 million capital increase and extended core financing to September 2028.
Voluntary delisting from SIX Swiss Exchange approved, effective June 2025, to optimize resources and reflect low trading volume.
Financial highlights
Net revenue: EUR 2,511.2 million, down 14.3% year-over-year (pro forma, excluding Ascometal).
EBITDA: EUR -35.5 million, improved from EUR -102.2 million in 2023, supported by one-time effects.
Adjusted EBITDA: EUR -119.8 million, margin -4.8% (2023: -1.3%).
Net debt reduced by 14.1% to EUR 711.4 million; shareholders' equity up 37.6% to EUR 322.8 million.
Free cash flow: EUR -173.3 million (2023: EUR 85.4 million), reflecting weak operating performance.
Group result: EUR -197.2 million (2023: EUR -294.8 million); EPS: EUR -7.59 (2023: EUR -19.34).
Outlook and guidance
Focus remains on operational excellence, financial stability, and leadership in sustainable steel.
Continued execution of SSG 2025 strategy, with further cost and capacity adjustments as needed.
No dividend proposed for 2024; medium- to long-term dividend policy under regular review.
Ongoing transformation expected to require time and discipline amid persistent market challenges.
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Frequently asked questions
Swiss Steel Holding AG, previously known as Schmolz+Bickenbach AG, is a Switzerland-based company specializing in the manufacturing and distribution of long steel products. These include tool steel, stainless steel, engineering steel, bright steel, and other specialty steel products. The company operates through two main segments: Production, and Sales & Services. The Production segment includes business units such as Deutsche Edelstahlwerke, Finkl Steel, Steeltec Group, Swiss Steel, and Ugitech, focusing on steel production. The Sales and Services segment covers distribution and service activities. The company is headquartered in Luzern, Switzerland, and its shares are listed on the SIX.