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Press archive

Consolidated Financial Statements 1st Half 2018 of the CRONIMET Holding Group

Karlsruhe, September 21, 2018

  • Very good start to 2018 financial year with growth in sales and tonnage

  • Increase in operating profit compared with the corresponding prior-year period

  • Forecast for the 2nd half of 2018: Business development of the Group as a whole remains in line with planning

  • Emerging challenges through enhanced trade policies

In the first half of 2018, the CRONIMET Holding Group, headquartered in Karlsruhe, was able to continue the positive development of 2017 and increase sales by approx. 8% to Euro 1.3 billion compared to the previous year. The tonnage delivered to customers increased again by approx. 2% compared to the tonnage that had already risen significantly in 2017. This led to some significant improvements in the key financial figures compared with the corresponding figures for the previous year. In particular, the operating result increased by almost 4% to Euro 30.5 million.

For the 2018 financial year as a whole, management is confident that earnings will exceed both the budgeted figures and the previous year's result. Possible challenges in the dynamic earnings development could be the current discussions about additional introduction and further increase of existing customs duties. Irrespective of this, the CRONIMET Group believes that it is excellently positioned in the economic zones of Europe and the USA, so that with the support of the existing subsidiaries in Asia the impact should remain manageable from today's perspective. CEO and shareholder Jürgen Pilarsky continues to be very satisfied with the company's current development: "We are very proud that we were able to continue the positive earnings momentum from 2017 in 2018 without restraint. This has improved and will further improve our capital strength, enabling us to increase our business volume for the benefit of our customers and suppliers even further.”

About the CRONIMET Holding Group
he CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The company has been supplying raw materials for the stainless steel producing industry for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The entire CRONIMET Group currently employs more than 5600 people globally.

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Consolidated financial statement 2017 of the CRONIMET Holding Group

Karlsruhe, 19. Juli 2018

  • Fiscal year 2017 closed with growth in sales and tonnage

  • Restructuring measures in 2015 and 2016 clearly contribute to a positive operating result in 2017

  • Forecast 2018: continued positive development of the entire group

  • New loan agreement with significantly improved conditions secures corporate fi-nancing for further 3 years

After two years of successful restructuring, the CRONIMET Holding Group noticeably improved its earnings situation in the financial year 2017 and achieved a pre-tax profit of approx. EUR 19 million. Beside a growth in sales and tonnage in nearly all divisions, this success is mainly a result of the restructuring measures of the two previous years, which firstly took effect on a total financial year in 2017. Sales increased significantly from EUR 1.65 billion in 2016 to EUR 2.1 bil-lion in 2017. At 1.425 million tonnes, Group-wide sales tonnage outperformed the previous year's level as well. The operating result improved by EUR 29.4 million to EUR 37.2 million and is thus above plan.

For the financial year 2018, the management is confident that it will outperform the plan values and also the previous year's result in terms of earnings. The financial figures for the first 6 months of 2018 confirm this development.

The positive development is rewarded by the financial markets as well. Thus, a new syndicated loan agreement with an international banking consortium was signed, covering a period of three years with approx. EUR 600 million. This loan, moreover, was significantly oversubscribed by the banks.

CEO and shareholder Juergen Pilarsky is very satisfied with the current company development: "Thanks to the great commitment of our employees and the support of our business partners, we were able to implement various measures in 2015 and 2016. The thereof resulting positive effects have already been apparent since the end of 2016 and continue to have a stabilizing effect on the company in 2017 to this day. We therefore consider ourselves as very well prepared for the future, especially with regard to the trade policy challenges. "

About the CRONIMET Holding Group
The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and pri-mary metals. The company has been supplying raw materials for the stainless steel producing indus-try for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The entire CRONIMET Group currently employs more than 5600 people globally.

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Triple award for CRONIMET Envirotec GmbH

Karlsruhe, 03. Dezember 2018

  • CRONIMET Envirotec convinces in competitions with innovation and sustainability

  • Awarded with the special prize of the Reiner Lemoine Innovation Prize Anhalt-Bitterfeld 2018

  • Achieving first place in a Start-Up-Pitching Contest through outstanding business model and sustainability

  • Winner of the category "Resource Efficiency" of the Environmental Alliance Award Saxony-Anhalt 2018

After CRONIMET Envirotec had already been awarded the German Raw Material Efficiency Prize in 2017, numerous awards this year are testimony to the young company's engagements. As part of the globally operating CRONIMET Group, CRONIMET Envirotec has been operating a recycling plant for metal-containing sludges and powders at its site in Bitterfeld-Wolfen since 2015. The innovative and sustainable technology has already established itself on the market and convinced numerous customers from industries such as tool manufacturing, foundries and automotive suppliers. According to CRONIMET Envirotec CEO Dr. Filipe Costa, three further awards this month underline this and are "a great recognition of our performance and the added value it creates for the metalworking industries".

In the competition for the Reiner Lemoine Innovation Award Anhalt-Bitterfeld 2018, CRONIMET Envirotec was awarded the special prize of the Bitterfeld-Wolfen Chemical Park. The company's innovative technology is at the forefront of this recognition.

At a job fair for start-ups organized by Leipzig Global at the beginning of the month, seven companies competed against each other in a pitch contest. CRONIMET Envirotec emerged as the winner and convinced with the presented business model, unique selling proposition and sustainability of the company.

These successes were recently topped by the prize of the Environmental Alliance of Saxony-Anhalt 2018 on 26 November. Every two years, outstanding entrepreneurial achievements in the field of resource efficiency and sustainability are honored in this competition. An independent jury evaluated 40 applications on the basis of their economic effectiveness, resource efficiency, positive effect on the environment and climate, and innovative strength. CRONIMET Envirotec won the category "Resource Efficiency".

About the CRONIMET Holding Group
The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The company has been supplying raw materials for the stainless steel producing industry for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 60 subsidiaries worldwide with more than 1500 employees. The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The entire CRONIMET Group currently employs more than 5600 people globally.

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Who takes care of aircrafts at the end of their life cycle? WE DO

Karlsruhe, 08. November 2019

  • CRONIMET expands its Aviation Recycling division

  • The dismantling of two Airbus A340s has been successfully completed

  • More than 300 tonnes of mixed scrap could be returned to the raw material cycle

There is an oppressive heat at Schwerin-Parchim Airport when the 12-member team of CRONIMET Ferroleg. GmbH and MoreAero GmbH arrives. The prevailing temperatures of 35 degrees are reminiscent of droughts in the American desert, where hundreds of discarded aircraft are parked. However, two Airbus A340s await a different fate at the Schwerin-Parchim airport.

The two aircraft of the airline China Eastern Airlines will be dismantled by CRONIMET Ferroleg. GmbH in cooperation with the partner MoreAero GmbH and the system partner Kiesel GmbH.  CRONIMET acts thereby as an experienced expert in the recycling of raw materials. The partner MoreAero GmbH has the mobile recycling solution ready for the complex demolition.

A few years ago, the sustainable idea of returning important raw materials from aircraft to the raw material cycle was born. This resulted in the "Aviation Recycling" division of CRONIMET Ferroleg. GmbH, which was already certified by the Aircraft Fleet Recycling Association in 2015. While the focus had previously been on the certified deactivation and recycling of aircraft components, CRONIMET was now able to greatly expand its know-how in the recycling of entire aircraft with the dismantling of the Airbuses, thus expanding its business line.

‘CRONIMET returns important raw materials to the cycle through professional end-of-life management for aircraft and engines’, explains Gregor Zenkner, Head of Corporate Development at CRONIMET Ferroleg. GmbH.

More than 300 tons of mixed scrap were recovered from the two Airbus A340s. CRONIMET employees have already pre-sorted them on site. Then more than 30 articulated lorries transported the aircraft scrap to the port of Hamburg, where the scrap was separated into alloys. The metallic raw materials can then flow back into the raw material cycle.  Impurities were separated and used as residual materials to generate energy.

At CRONIMET, the sustainable concept is not only firmly anchored in the values. It is the basic framework and the motivation for the business model. With the recycling of aircraft, a further major step has been taken towards the recycling of scarce raw materials.

  

About the CRONIMET Holding Group

The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The company has been supplying raw materials for the stainless steel producing industry for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 70 subsidiaries worldwide with more than 1500 employees. The entire CRONIMET Group currently employs more than 5600 people globally.

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Appointment of Mr. Marijo Zeljko as CEO Europe of CRONIMET Holding GmbH

Karlsruhe, 08. November 2019

  • Mr. Marijo Zeljko is responsible for the overall management of all European locations

  • In addition, he will remain Managing Director of CRONIMET Ferroleg. GmbH

In September 2019, Marijo Zeljko was appointed CEO Europe of the CRONIMET Group. Mr. Zeljko is thus responsible for the overall management of all European locations as well as purchasing and sales in this region.

Mr. Zeljko has been working for CRONIMET since 1998. In 2004 he was appointed Plant Manager of CRONIMET Ferroleg GmbH, located at the headquarters in Karlsruhe. At the beginning of 2015 he also took over the management of this company.

In 2010, Mr. Zeljko was seconded to the Italian subsidiary Nichel Leghe SpA for three years as Plant Manager and Managing Director.

After his return from Italy, Mr. Zeljko was one of the founding members of the Board Europe at the end of 2013 and has since been responsible for the "Operations & Technology" divisions in Europe.

Based on his many years of experience, both the Pilarsky shareholder family and the management of CRONIMET Holding GmbH have now decided to appoint Mr. Zeljko as CEO Europe. The CRONIMET management congratulates Mr. Zeljko on this new and highly responsible position within the CRONIMET Group!

In addition to his new position, Mr. Zeljko will continue to hold the position of Managing Director of CRONIMET Ferroleg. GmbH. With more than 20 years of company and industry knowledge, he will also support the other European CRONIMET locations as CEO Europe in the near future.

"I view CRONIMET's future in Europe with great confidence, because I am sure that together we have all the necessary resources to shape it positively for the benefit of the company", Marijo Zeljko takes up his new challenge. "The best way to predict the future is to shape it ourselves".

 

About the CRONIMET Holding Group

The CRONIMET Holding Group, based in Karlsruhe, together with the companies of the affiliate company CRONIMET Mining AG, is part of the 100% family-owned CRONIMET Group. The CRONIMET Holding Group is a worldwide specialist for stainless steel scrap, ferroalloys and primary metals. The company has been supplying raw materials for the stainless steel producing industry for nearly four decades. The focus lies on trade & sales, recycling and production & services. The CRONIMET Holding Group was founded in 1980 and today has over 70 subsidiaries worldwide with more than 1500 employees. The entire CRONIMET Group currently employs more than 5600 people globally.

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CRONIMET recycles gas turbines

Karlsruhe, 31. Januar 2018

With the documented destruction of aircraft turbines in 2016, CRONIMET broke new ground in the recycling of finite resources. At the end of last year, the company further recycled its first gas turbine the second one in January.

With the documented destruction of aircraft turbines in 2016, CRONIMET broke new ground in the recycling of finite resources. At the end of last year, the company further recycled its first gas turbine the second onA resource - efficient recycling of valuable alloys is the core business of CRONIMET in Karlsruhe. Gas turbines contain finite metals and various precious alloys, which would be lost without any efficient recycling in January.

"Both the customers and the manufacturers attach great importance to the documented destruction and recycling of gas turbines. Our experience in the recycling of aircraft turbines according to air safety standards is an optimal prerequisite for meeting such high req uirements, " Gregor Zenkner ( Head of Aviation Recycling ) further elaborates . CRONIMET professionally dismantles the turbines, documents the de struction of the individual parts and eventually returns the secondary raw materials according to their alloys to the environmental cycle.

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Appointment of Ms Annette Gartner as another managing director of CRONIMET Holding GmbH

Karlsruhe, 01. Juli 2017

CRONIMET Holding GmbH shareholders have appointed Ms Annette Gartner as another managing director of CRONIMET Holding GmbH with effect from 1 July 2017. Ms Gartner has already worked for the company since 2006 and was most recently partly responsible for the successful SAP launch for the entire group. She is also a member of the regional board for European business.

Particularly in consideration of global digitalisation and lack of specialists, the CRONIMET management team has developed areas of action in the last 12 months that CRONIMET would like to give more attention to in the future and in which the appropriate investments will be made in order to maintain and expand the CRONIMET Group’s competitive position. In this respect, the decision has been made that both HR management and digitalisation will be represented in a separate managerial role in the future in the form of Ms Gartner.

“We have gained a highly competent and experienced manager for our management team with Ms Gartner and in doing so we will gain significant speed in the key areas of HR development and digitalisation”, Shareholders and CEO Jürgen Pilarsky, together with his management colleagues Bernhard Kunsmann and Oliver Kleinhempel, are pleased with the addition to the management team.

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Change of name into CRONIMET Envirotec with new appearance

Bitterfeld-Wolfen, 23. Januar 2017

Destimet Green Services GmbH changes its company name into CRONIMET Envirotec GmbH.

The technology leader of the vacuum thermal treatment of metal and oil based industrial sludges is now named CRONIMET Envirotec GmbH with immediate effect. Since 2015, CRONIMET Holding GmbH has been sole shareholder of the company, which is located in Bitterfeld-Wolfen (50 km from Leipzig). Reason for the change of name is the full identification with the brand name CRONIMET. The new website www.cronimet-envirotec.com as well as the new appearance in the corporate design of CRONIMET make the affiliation of 100% and the integration into the group additionally visible.

CRONIMET Envirotec GmbH stands for innovative and sustainable treatment of waste sludges of the metal and oil industry. The patented vacuum distillation enables an environmentally friendly and sustainable separation of substances without changing their chemistry and ensures a holistic use along the value chain.

“We are opening the network of a world market leader in the sector of secondary raw materials for our parters within the CRONIMET Group. We will keep developing individual solutions and assisting our customers as a reliable and innovative partner,” says Filipe Costa, managing director of CRONIMET Envirotec GmbH.

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Agreement for the development of a ferronickel production facility in Indonesia

Karlsruhe/Berlin, 05. April 2015

ANTAM, CRONIMET and FERROSTAAL signed a Project Development Agreement (PDA) on Monday, 18thof April 2016, in order to jointly develop a long - term ferronickel production facility in Pomalaa, Southe ast Sulawesi, Indonesia for the manufacturing of nickel pig iron (NPI) over the next few years.

Berlin, 18th of April 2016 - The Project Development Agreement (PDA) was signed at the German - Indonesian Business Forum in Berlin, which was officially opened by the Indonesian President, H.E. Joko Widodo, and the Chairman of the Asia - Pacific Committee of German Business, Mr. Hubert Lienhard. Mr. Günter Pilarsky, Shareholder and President of CRONIMET Holding GmbH, Dr. Klaus Lesker, CEO of Ferrostaal GmbH and Mr. Tedy Badrujaman, President Director of the Indonesian mine and smelter operator PT ANTAM, signed the PDA on behalf of their respective companies in order to jointly develop a long - term production facility in Pomalaa, Southeast Sulawesi, Indonesia, for the manufacturing of nickel pig iron (NPI).

A Letter of Intent (LOI) which was signed by the concerned parties in June 2014, declaring their intention regarding the joint development, will now be extended and strengthened by the Project Development Agreemen t (PDA).

The aforementioned production plant is expected to produce 130,000 tons of nickel pig iron with approximately 15% Nickel content and will consume 1.85 million wet metric tons (wmt) of nickel ore per year as feedstock. NPI is used for the product ion of stainless steel.

“Together with ANTAM and FERROSTAAL we have strong partners at our side to further intensify the NPI project. The project is part of the long - term strategy of CRONIMET in order to strengthen our positioning on the Asian markets and increase our vertical in tegration,” says Günter Pilarsky, Shareholder and President of CRONIMET Holding GmbH.

“Ferrostaal is convinced that the processing of nickel ore will be profitable in Indonesia due to the excellent conditions including its location. Furthermore, we have been working with our partners for a long time on a trusting and efficient basis – the agreement, which has now been signed demonstrates this very clearly. With this project we are pleased to successfully continue the decades of cooperation of our house w ith partners from Indonesia”, says Dr. Klaus Lesker, CEO of Ferrostaal GmbH.

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CRONIMET Holding GmbH
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76189 Karlsruhe

+ 49 (0) 721-95 225-0