CELSA Group concludes its first financial year of a new stage with positive indicators and projects growth in 2025
- The company reported revenues of €3,360 million in 2024, following the divestment of its UK and Nordic operations, representing a 1% increase in tons of steel sold despite challenging market conditions, as steel consumption in the European Union (EU) declined by 1.1%.
- The Group closed the year with EBITDA of €274 million, after the divestment of its UK and Nordic plants, representing 8.2% of sales – well above the European sector average of 4%.
- Since the period before restructuring in November 2023, CELSA reduced net debt by €1,793 million to €1,896 million—a 48% reduction—thanks to debt capitalisation, a €109 million capital increase by shareholders, and proceeds from divestments in the UK and Norway.
- Results for the first five months of 2025 confirm continued improvement: EBITDA grew 34% year-on-year to €182 million (11.8% of sales), well above the sector average in Europe of 2.5% in Q1. EBITDA is expected to reach approximately €400 million by year-end.
- Planned investments for 2025 will increase by 75% compared to 2024, reaching €196 million, demonstrating CELSA’s commitment to future growth and resilience.
- CELSA Group remains firmly committed to sustainability and first-class corporate governance.
Barcelona, 30 June 2025.
CELSA Group,,leading producer of low-emissions circular steel in Europe, today presented its 2024 annual results and outlined its positive outlook for 2025 at the Shareholders’ Meeting in Castellbisbal (Barcelona). Chairman Rafael Villaseca and CEO Jordi Cazorla shared performance highlights and future priorities. The company has announced its strong performance for the first half of 2025, along with its projections for the rest of the year.
Strong Closing of the first year with consolidated accounts and positive indicators
Celsa Group has closed 2024 with a good performance despite the fact that steel consumption in the European Union (EU) experienced a fall of 1.1%, after a decrease of 9% in 2023 and 8.3% in 2022.
Specifically, the company achieved sales of €3,360 million and EBITDA of €274 million (8.2% of sales), and positive operating profit of €65 million. Financial costs totaled €322 million, including €146 million paid and €176 million accrued but unpaid, due to the Restructuring Plan approved by courts. The Plan runs through 2028 and considers unpaid financial expenses as additional debt.
Another indicator that demonstrates the company’s positive evolution is net debt, which has been reduced by 48%, from €3,698 million in November 2023 to €1,896 million in April 2025.
Celsa projects 2025 with a clear positive outlook
Villaseca and Cazorla highlighted the company’s strong performance in the first five months of this year. Among other figures, they pointed to a 3% increase in tons sold compared to the same period in 2024, a 34% rise in EBITDA versus the first five months of 2024, and an EBITDA-to-sales ratio of 11.8%, which is 3.6 points higher than at the end of May 2024. As for net profit, it was positive at the end of May, improving by €97 million (an increase of 104%) compared to the same period of the previous year.
The accumulated EBITDA over the past 12 months has shown a robust upward trend since the launch of the Industrial Value Creation Plan in June 2024, generating an immediate and significant impact on its trajectory, reaching €321 million in May 2025, up from €269 million in May 2024. The Industrial Value Creation Plan has been financed by the current shareholders through a €109 million capital increase, demonstrating their commitment to the company’s future.
The planned investment for 2025 is €196 million, 75% more than in 2024. Of this total, €43 million corresponds to the Industrial Value Creation Plan, through which the forecasted EBITDA for the end of 2025 is expected to reach approximately €400 million, 46% higher than in 2024.
Celsa wants to continue being a leader in sustainability and circularity
On the other hand, CELSA Group is also working to meet ambitious commitments in sustainability and circularity in the short and medium term. The group’s production was 5.7 million tonnes of 100% recyclable steel by 2024. The finished product in 2024 contains 95% of recycled material, and the goal is to achieve 98% circularity by 2030.
In terms of climate, in the last year CELSA recorded an emissions intensity of Scope 1 and 2 (tCO₂eq/t of steel) six times lower than the world average of blast furnace production. Compared to the average of electric steel mills in the European Union, the company has managed to emit 41% less (Scope 1 and 2 emissions, based on location). In addition, in the last financial year, CELSA Group has reduced its direct and indirect CO₂ emissions by 2.49% compared to 2023, remaining in line with the decarbonisation targets set for 2030.
Looking ahead to 2025, CELSA Group will continue to deploy its Safety Improvement Plan, which began in February 2024. In addition, the company will revitalise its Sustainability Roadmap in order to consolidate its position as a benchmark in sustainability and circularity within the steel sector. As vice-president of EUROFER, CELSA Group will also play a key role in promoting the Steel and Metals Action Plan, a European roadmap that addresses the most immediate challenges facing the sector.
Every euro of added value generated by Celsa in Spain contributes to generating more than 5 euros of added value in the Spanish economy.
Priorities
Villaseca and Cazorla emphasized the company’s main priorities: improving operating results to achieve approximately €659 million in EBITDA by 2028; strengthening the company’s debt position by reducing the net debt-to-EBITDA ratio from 8.4 in November 2023 to around 2.5 by 2028; and maintaining a firm commitment to Sustainability and world-class Governance.
About Celsa Group
Celsa is Europe’s first low-emission circular steel producer with the largest circular supply chain in Europe. It recycles ferrous scrap to produce steel in electric arc furnaces, using the most sustainable and energy-efficient technology.
The company is made up of several business groups and has several work centres, steel mills, rolling mills and recycling plants (circular hubs), as well as transformation and distribution companies, which generate direct and indirect employment for more than 6,600 professionals in Europe.
The group works to provide solutions to the planet’s greatest systemic risks: the depletion of resources and the fight against climate change. To this end, it has set itself the objectives of reducing its CO2 emissions by 50% and achieving 98% circularity by 2030 and completing its circularity and being a Net Positive company by 2050.
For more information:
Nuria Jiménez, njimenez@kreab.com; 693 33 80 47
