Metalcorp Group reports a drop in sales revenue in H1 2016 due to low metal prices

<p>Metalcorp Group B.V., one of Europe's leading producers of secondary aluminium or recycled ingots and a leading name for the global physical trade in steel and non-ferrous metals reported the results for H1 2016.<br /><br />The company reported an increase in Earnings Before Interest and Taxes (EBIT which is on account of the increased trade volumes and improved margins. Earnings Before Taxes increased 27.8% to EUR 2.3 million compared to EUR 1.8 million in H12015. The Group's sales revenue was EUR 209.0 million compared to EUR 259.2 million in H1 2015. The drop in revenue was due to lower commodity prices in LME and scrap.<br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/metalcorp_grop.jpg" alt="News" width="590" height="212" /><br /><br />Commenting on the result, Thomas Picek, CEO of Metalcorp Group said: "Our successful earnings performance based on our low-risk business model in back-to-back transactions requiring no stock-keeping shows that we can increase the quality of our earnings regardless of the volatile prices in the international commodity markets. At the same time, this vindicates our strategy of focusing on value creation in the trading and production segment.&rdquo;<br /><br />&ldquo;In view of the orders on hand and the expansion of our trading activities, especially in Europe, we expect our total results in 2016 to exceed those of 2015," he added.</p>