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Danieli company awarded two new orders in China

December 10, 2019


Abstract : The company announced that Tangshan Reafon Iron & Steel and Hegang Laoting have awarded to it the contract to build four new process control systems in the Tangshan and Laoting plants

MILAN, Dec. 9 (Class Editori) – The Danieli bond is against the trend at Piazza Affari. It marks a rise of 0.37% to 16.44 euros, while the Ftse Mib sells 0.32%. This morning, Mediobanca Securities (outperform and target price of 21.3 euros confirmed on the share) reports that the Danieli company announced on its website that it won two orders in China awarded by Tangshan Reafon Iron & Steel and by Hegang Laoting to build four new process control systems in the Tangshan and Laoting plants.

The contracts were awarded to the subsidiary Danieli Corus, but their amount was not disclosed. For Mediobanca it is "a positive news that confirms the positive moment of the plant production division".

In the last few years the company from Buttrio (Udine), one of the three largest producers of metallurgy plants in the world - owned and managed by the family of the same name - focused heavily on China, a country that covers more than half of global production of steel, and that for the company has come to weigh 60%. Danieli entered the Chinese market 15 years ago first with a representative office and then with the construction of two factories, one near Shanghai and one in Beijing, to closely assist local customers.

Meanwhile, expansion is also aimed at western markets: the last operation took place at the end of November when the group announced that it had been selected to carry out a complete modernization of the Algoma Steel plant in Ontario, Canada. In this case as well the contract value had not been disclosed.

The group closed the 2018/2019 financial statements (the company closes on 30 June) with an order book of 3.1 billion compared to 2.95 billion at the beginning of the year, a turnover of 3 billion, +13%, and an EBITDA of 238 million, +5%. Net profit rose 15% to 67 million.

With respect to the 2018/2019 financial year, the multinational company distributed a dividend of 0.15 euros for ordinary shares and 0.1707 euros for savings bonds, for an amount of 11.91 million euros. The coupon was detached on November 18, 2019. (All right reserved)


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Keyword: Italy Danieli Group

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