2025 was a positive year for SIDMA Metallurgiki, as, compared to 2024, the group reported:
- Positive pre-tax results of €335,000 compared to losses of €3.5 million.
- A notable increase in operating profitability (EBITDA) of 43.7%
- A marginal decrease in revenue of 2.5%, due to the decline in international steel prices
As stated in a related announcement, the domestic economic environment over the past year was favorable for the growth and profitability of the company’s operations. GDP grew by 2.3%, at a rate double the European average, bolstered, among other factors, by the construction sector—which is critical for shaping demand for steel products. The intensive execution of projects funded by the Recovery Fund, progress on the Hellinikon project, as well as major infrastructure projects such as Metro Line 4, the BOAK, and the E65 highway, which have entered construction phases with significant steel requirements, significantly boosted demand for the company’s products, creating the conditions for improved financial performance.
More specifically, the annual financial results of SIDMA Metallurgy, both consolidated and standalone, for 2025 were as follows:
At the group level, revenue amounted to €181.73 million, down from €186.3 million in 2024, representing a 2.5% decrease, despite an increase in sales volume, due to the continued decline in the average selling price from the previous year, which is attributable to the downward trend in international steel prices. Including agency sales, turnover in 2025 amounted to €214.6 million compared to €221.6 million the previous year, marking a 3.2% decline.
However, earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a notable increase of 43.7%, rising to €8.6 million in the past fiscal year from €6.0 million in 2024, as a result of a 14.2% increase (to €17.8 million in 2025 from €15.6 million in 2024) in gross profit.
Finally, as mentioned above, the Group returned to profitability, with pre-tax results amounting to a profit of €0.335 million compared to a loss of €3.5 million in 2024.
At the company level, revenue stood at €139.1 million, down from €141.7 million in 2024, representing a 2% decrease, while including dealership sales, it stood at €171.9 million, down from €177.0 million, a 3% decrease. As at the group level, the decline in revenue is clearly attributable to the decline in the average selling price, a result of the slide in international steel prices for the second consecutive year. However, the increase in sales volumes and—primarily—the expansion of the gross profit margin led to a significant improvement in operating results. Specifically, earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to €7.5 million, up from €5.2 million in 2024, marking a 43.9% increase, primarily due to a 22.8% rise in gross profit, while, in terms of pre-tax results, losses were significantly reduced to €0.336 million, from €3.8 million in 2024.
It should be noted that the 2025 results, like those of previous years, at both the group and parent company levels, are shown as being burdened by €1.5 million due to depreciation charges resulting from the accounting treatment of the refinancing of the company’s loan obligations in 2021.
Finally, SIDMA Bulgaria achieved a spectacular increase in profitability in 2025 compared to 2024, more than doubling its pre-tax profit from €286,000 to €671,000, while EBITDA increased by 42.3% to €1,128,000 from €793,000, mainly due to a 19% increase in gross profit. Revenue amounted to €44 million, showing a marginal decrease of just 1.4% compared to €44.6 million in 2024, which is exclusively due to the decline in the average selling price.
Regarding balance sheet figures, it is noted that equity at the company level amounted to €23.2 million, the Group’s liquidity at €6.0 million, while its debt obligations stood at €68.2 million, or 32% of turnover (including dealership sales).
During the first quarter of 2026, the market appeared to adopt a wait-and-see stance in anticipation of the formulation and assessment of the impacts of the European Union’s new environmental regulations, specifically the definitive implementation of the Carbon Border Adjustment Mechanism(CBAM), which led to a rise in import prices of approximately 10%. At the same time, stricter import quotas in the EU and the ongoing armed conflicts in the Middle East and Ukraine are causing disruptions in supply chains and new upward pressures on energy and raw material prices, exacerbating instability and uncertainty globally.
In this volatile environment, SIDMA Metallurgics prioritizes securing its supply chain to ensure uninterrupted service to the market, particularly for the major infrastructure projects it supplies. At the same time, through dynamic management of the increasingly complex parameters of import costs and a flexible and adaptive pricing policy, it strives to continuously optimize the balance between competitiveness and healthy profit margins, for the benefit of customers, shareholders, and all those involved in or affected by its operations.