(Alliance News) - During "Mid & Small I London 2024," Alliance News asked Alessandro Brussi, vice president and Group CFO of Danieli & C. Spa, a few questions.

Following the half-year results, which showed a decline in profitability in steel production and an improvement in steel plant design and supply, how do you plan to manage these fluctuations? And are they set to continue?

"The low profitability of the steel business is due in the first half of the year to the write-down that we have taken into the income statement with the rotation of inventory, which, as of July 1, 2023, had an average cost higher than the market price, which has been affected by a rapid decrease in the face of declining energy factors," Brussi replied.

Who added, "We don't expect to have such a problem in the second half of the fiscal year ending June 30, 2024, as the steelmaking sector has rebounded."

How do international uncertainties weigh on a company like yours?

"They certainly have a bearing, especially at times of initial destabilization, considering that we export more than 90 percent of our production. However, we believe that a stabilization, if not a normalization of the geopolitical situation, will allow us to efficiently manage the situation even in the current new equilibrium."

More generally, what are the main areas of interest that investors expressed during today's meetings?

"Definitely great interest in the technological evolution of the steel sector driven by the decarbonization process of the industry, which represents a great opportunity for the products and technological solutions developed by Danieli," Brussi concluded.

Danieli's CFO was interviewed during the sixth edition of the investor conference "Mid & Small | London 2024," a key event for the international financial community that each year brings together the leading companies listed on the Italian markets and an audience of institutional investors - organized by Virgilio ir, with the sponsorship of Mediobanca, the support of Borsa Italiana and the collaboration of Barabino & Partners.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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