DUFERCO ANNUAL REPORT
View the presentation of financial data and the sustainability disclosure
The results showed rapid growth in revenues from FY2021, with the Group recording an increase of over 80% to about 45.8 billion USD. In addition to revenue growth, the Duferco Group’s profit also saw significant gains, increasing by almost 47% over the previous fiscal year, reaching 385 million USD. Besides its impressive economic and financial achievements, the Group upheld its dedication to ESG (Environmental, Social, and Governance) issues and is confident to further advance and improve its sustainability performance within all its Divisions: Steel, Energy, Shipping and Innovation. The Company confirmed its commitment to invest in efficient and high-impact projects that are aligned with its values and mission. Notably, despite some pandemic-related delays and recent economic challenges, the Steel Division successfully carried out the construction of a new rolling mill and the first tests are expected to take place around May-June 2023.
The new rolling mill will generate at least 150 new employments. Moreover, the Company has continued to prioritize sustainability in its operations and has taken further steps toward the reduction of its overall environmental footprint. Among the initiatives performed in FY2022, it is worth mentioning investing in renewable energy sources and implementing sustainable waste management practices across the different operations and Divisions. In FY2022, the Group proved to be a reliable supplier of green energy, injecting approximately 2.2 million MWh of energy from renewable sources into the grid through its Energy Division. The Group’s commitment to sustainable energy production is reflected in its ongoing efforts to increase its capacity through solar and wind power plants, as well as through the production of biomass intended for energy production.
The Group set its sights on reducing the environmental impacts of the Shipping Division and recently completed the plan to replace traditional fuels with cutting-edge, low-impact alternatives. After several years of accurate planning, the Group has successfully charted a course towards a more sustainable future, ensuring that its shipping operations are not only efficient, but also environmentally responsible. Duferco’s operations are marked by innovation and dynamism, which are evident across the Group’s entire range of activities. The Innovation Division is committed to boosting the Group’s synergies and assisting the entire workforce in its quest for innovation and tackling fresh challenges. The key objective is to capitalize on the immense potential of cutting-edge technologies, including data science, the Internet of Things and Artificial Intelligence, to drive sustained enhancements in the Group’s and business partners’ infrastructures. Through all its operations, the Group seeks to give an adequate response to the most pressing challenges that characterize the present days. This Annual Report serves as a statement for Duferco’s sustainability commitments and future goals. While the Group is achieving short and medium-term sustainability goals, it is also establishing long-term ambitions that support the transition towards global sustainable development.”