Balance sheet figures 2021
Steel feels the effects of corona and war
The explosion protection company Stahl felt the effects of the coronavirus pandemic and its economic consequences last year. Despite a slight increase in turnover, the bottom line was a loss.
Group turnover increased slightly by 0.7% to 248.1 million euros, as R. Stahl announced on Wednesday in Waldenburg (Hohenlohe district). The bottom line was a loss of 4.9 million euros after minus 3.5 million euros in the previous year.
Due to the Russian war in the Ukraine, a minority stake in the Russian company Zavod Goreltex (St. Petersburg) will probably have to be partially written down in the current year, the company announced. Impairment is an accounting term, whereby the book value is adjusted to the actual value. "As a consequence, this could lead to a negative consolidated result in the mid to high single-digit million range," explained the technology company with a view to the earnings situation in 2022.
Stahl sees itself as one of the world's leading providers of electrical explosion protection. Customers include the oil and gas industry as well as the pharmaceutical and chemical sectors. The technology company also sees potential in the areas of liquefied gas and hydrogen.
At the end of last year, the company employed 1672 people. Just under 50% of the shares are in the hands of shareholders from the Stahl and Zaiser founding families.
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