Cylinders Holding earned 4.4 billion crowns last year. EBITDA increased over half a billion 23. 2. 2021

Cylinders Holding earned 4.4 billion crowns last year. EBITDA increased over half a billion

According to preliminary results, the Cylinders Holding Group, a key global producer of seamless steel cylinders based in Europe, achieved a non-consolidated turnover of CZK 4.4 billion last year. The EBITDA indicator reached 570 million crowns. Revenues increased by 4.4 percent year-on-year, EBITDA by 26 percent. However, the group originally expected revenues to be about half a billion crowns higher.

"Covid-19 has chosen a high tax in our country as well. The pandemic caused panic among our customers, who then slowed down and postponed the terms of their contracts. Therefore, most of the companies in the group did not meet the sales plan. We did not lose the orders, but we will not finish them until this year, "commented Jan Světlík, CEO of Cylinders Holding. Acquisitions helped on the other side of the turnover. In particular, the new company Cylinders Bel, which has had its first full year of operation.

Cylinders Holding made a significant investment last year, despite the difficulties caused by the pandemic. In addition to the new operation in the mentioned company Cylinders Bel, he modernized and robotized the so-called hot parts of the production process in the Polish company Vítkovice Milmet. In Vítkovice Cylinders in Ostrava, he modernized its operations and opened a completely new hall with a production and assembly line for the production of bundles of steel bottles and containers intended for the storage and transport of large volumes of hydrogen, CNG and technical gases. Investments are to continue this year, within the Cylinders 4.0 program.

This year, the Cylinders Holding Group will continue to develop new products and their technological units - both for hydrogen, including plans for the hydrogen city of H2 District in Ostrava, and for other new trends in the circular industry, emission-free energy and transport. This should, among other things, mean a demand for qualified people. Vítkovice Cylinders in Ostrava will soon be hiring new employees for development programs.

In 2019, the Cylinders Holding Group generated non-consolidated revenues in the amount of over CZK 4.2 billion and a non-consolidated EBITDA indicator of approximately CZK 450 million. The number of employees of the holding did not grow year-on-year last year thanks to the 4.0 strategy. On the contrary, it fell by more than four percent, to 1,030 people.

Media contact: Eva Kijonková, media representation, tel. +420 721 857 097

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