The company anticipates a drop in sales revenues due to lower prices and further restructuring, but projects a further increase in earnings before taxes. “The past financial year shows that we are on the right track with our strategy. We are extending our value chains, improving the quality of the materials we process and developing new business ideas. This successful strategy is to be continued in 2016, allowing us to move forward with renewed strength,” said Chairman of the Administrative Board Dr Axel Schweitzer before the Annual General Meeting held in Cologne. Schweitzer is also CEO of the parent company, the Alba Group.
Last year, on the basis of some EUR 1.4 billion in sales revenues, Alba SE generated earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 41.2 million (an increase of 22.5%). Earnings before taxes climbed even more strongly: The figure rose by EUR 44.2 million and was back in positive figures at EUR 9.9 million after two years of negative EBT.
Questions from shareholders and shareholder representatives focused on the continuation of the investor process launched several weeks earlier. Alba Group is choosing a partner for the services business with whom better use can be made of the growth opportunities in that market. Schweitzer already announced in his presentation that the services segment will be carved out of Alba SE in the course of the process and brought under an intermediate holding company. “This makes it easier to link up the segment with other services units within the Group, enabling us to put together a package so that we can make the best possible use of growth opportunities,” Schweitzer said in explanation for the move.
“The transaction will leave Alba SE a strong and attractive company,” Schweitzer said, “as we have achieved turnaround in EBITDA in the steel and metals business. The fact that Alba SE is back in the black is down to successful efforts in the metals business.” Alba SE has restructured this business over the past few years.
The Annual General Meeting – with 93.64 per cent attendance – elected Alba Group Managing Director Rob Nansink and Commercial Manager Dirk Beuth alongside Schweitzer to the Administrative Board for a four-year term.