SIDMA STEEL S.A. announced its financial results for the first half of 2025, during which the company achieved a significant improvement in operating profitability, despite a small decline in turnover. This occurred in a business environment characterized by stabilizing steel prices and continued satisfactory domestic demand.

Specifically, for the first half of 2025—before extraordinary and non-recurring expenses—the company reported:

• Turnover: A marginal decrease of 2.0% at the group level and 1.3% at the company level. This was attributed to a drop of approximately 5.0% in international steel prices.
• Operating Profitability (EBITDA): An increase of 26.8% at the group level and 20.1% for the parent company.
• Profit before Tax: A 79% improvement at the group level and 60% for the parent company. Notably, the adjusted profit before tax for both the group and the parent company was positive for the first time since 2022.

The consolidated turnover for the SIDMA STEEL Group in the first half of 2025 amounted to euro90.6 million, a 2.0% decrease from euro92.4 million in the first half of 2024. This decrease was almost entirely due to the drop in the average selling price. Including agency sales, turnover reached euro107.4 million, down 4.2% from euro112.1 million the previous year. Despite the lower turnover, Gross Profit increased by 15.1% to euro8.18 million, as the Gross Profit Margin improved to 9.0% from 7.7%. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 20.9% to euro3.6 million from euro3.0 million in 2024. Finally, Profit Before Tax showed a loss of euro0.5 million, a 68.5% improvement from the euro1.7 million loss in 2024. Excluding non-recurring expenses of euro0.2 million related to the sale of the Romanian subsidiary, the comparable profit before tax for the group was a loss of euro0.3 million, and EBITDA was euro3.8 million.

At the company level, SIDMA STEEL's SA turnover in the first half of 2025 amounted to euro69.6 million, a marginal decrease of 1.3% from euro70.5 million in June 2024. Including agency sales, turnover reached euro86.4 million, down 4.2% from euro90.2 million. EBITDA for the company reached euro3.05 million, marking an increase from euro2.7 million in June 2024, primarily due to a 14.5% increase in gross profit. Profit Before Tax resulted in a loss of euro0.9 million, representing an improvement from the euro1.8 million loss in the comparative period. Excluding non-recurring expenses of euro0.2 million from the sale of the Romanian subsidiary and a euro0.7 million write-off related to the 2021 refinancing of company loans, the adjusted profit before tax for both the group and the parent company was positive at euro0.4 million and euro0.02 million, respectively.

The subsidiary SIDMA Bulgaria saw its Profit Before Tax rise to euro364 thousand, up from euro90 thousand in 2024. EBITDA increased by 67.4% to euro576 thousand from euro344 thousand, mainly due to a 57.6% increase in gross profit. Turnover for the subsidiary was euro21.2 million, a slight 3.3% decrease from euro21.9 million in 2024, which was exclusively due to an approximate 4% drop in the average selling price.

As for the key balance sheet figures, the company's equity was euro22.3 million, while the group's liquidity was euro4.0 million, and its loan obligations were euro69.8 million, a decrease of 2.2% or euro1.5 million.

While conditions in the international and particularly the European steel market continue to be shaped by tensions in international trade relations, energy costs, and high interest rates —factors that increase production costs and reduce demand— the two elements that, to a large extent, determine the performance of Greek steel trading companies, i.e. domestic demand and the trend in import prices for steel products, are evolving favorably.

The demand for steel in Greece is strong and is expected to continue that way, mainly because of robust public and private construction activity. This is backed by the fact that major construction firms have a project backlog valued at over euro16 billion.

Regarding prices, the European Union's trade protectionist measures continue to restrict the penetration of products from low-cost countries, reinforcing upward pressure on steel prices in the domestic market and helping to decompress profit margins.

Under these circumstances, the company's trend of increasing profitability, which was reflected in the H1 results, is estimated to continue throughout the current year, with the prospect of strengthening in 2026, when a recovery of the European market is also expected.