U.S. Steel Košice steel mill posted record sales

The U.S. Steel Košice steel mill posted a 49% drop in net profit to €332.7m last year and its sales rose 12% to €4.023bn. The lower profit came on the back of a decline in both steel prices and demand in the second half of the year. Sales reached a new record, although the Russian invasion, according to management, "caused chaos in the European economy." Investment doubled last year to €75m. Employment fell to 8,253. Low demand persists in the first half of this year and results are likely to worsen this year.

(trend.sk)