Poland’s Cognor posts lower results in 2015, blames falling steel prices

摘要

Cognor S.A., one of Poland’s major electric steel producers, posts lower results in 2015 despite higher shipments. Thecompany blames weaker steel prices, caused by surging imports from non-EU countries.Despite the fact that Poland was “one of the few exceptions where both steel use and production increased in 2015,”lower sales combined with falling steel prices hampered the company’s EBITDA significantly in 2015. Operating resultsdecreased even more sharply, from PLN 66 million (EUR 15.5 million) in 2014 to PLN 13.1 million (EUR 3 million) in2015, Metal Expert has learnt.