DUFERCO ANNUAL REPORT

“Despite the difficulties experienced over the last two years, strongly influenced by the pandemic, Duferco Group successfully managed to protect its employees, while maintaining and increasing its business activities. Our people proved once more to be the core asset of the Group: their expertise and dedication allowed companies to overcome the difficulties of the period, and further consolidate our growth in all sectors.

The 2021 results confirm the Group’s excellent economic performance, showing that our portfolio is in fact a set of activities with a good balance between profitability and risk. The excellent results of financial year 2021 and the first half of 2022 must not distract us from the unknowns and the challenges affecting the world economy, and the consequent changes that they may imply in our businesses.

Duferco Group’s activities – and their balanced configuration between cyclical and countercyclical ones – constitute an important element of strength; we will continue to maintain a high level of capitalization and available liquidity as well as a strong orientation towards risk control. We will continue as well to focus on investments aimed at strengthening our autonomy and strategic independence, and to promote investments aimed at the decarbonization of our industrial activities and the sustainability of all the Group’s activities.”

Bruno Bolfo