Třinecké železárny concluded its 2023 financial year

Třinecké železárny (TŽ) closed the financial year 2023 with a profit of CZK 44 million. The result was approved by the company's General Meeting on Monday, 24 of June. Sales of products and services in 2023 reached the value of CZK 49.692 billion. In 2022, it was CZK billion 57.602. Třinecké železárny (TŽ) produced 2, 415 kilotonnes of steel in 2023.

„The year 2023 has not been kind to steel producers. Global steel consumption plunged, marking the fourth annual recession in the past five years. Sharply rising energy prices, which had a major impact on competitiveness on world markets, had a significant impact on the economy. We also faced a significant drop in demand in the steel products market throughout the year, “summarised Tomáš Chrenek, Chairman of the Supervisory Board of TŽ.

However, the smelter's production aggregates managed to keep it running throughout the year and produced 2.415 million tonnes of steel. The share of Třinecké železárny in the domestic production of crude steel increased to 71 % in 2023.

Wire rod remains the main product of the company, which delivered 937.5 kilotonnes of it to the markets last year. In the assortment of bar and profile steel the sales volume reached 487 kilotonnes. Bar and profile steel is mainly used for flexible parts used in the automotive industry. In particular, 250 kilotonnes of rails, including railway accessories, were delivered to foreign markets, while the share of sales abroad was 89 %.

Last year, the company also maintained the planned volume of investments of CZK 1.4 billion, which were aimed at automation, energy savings, increasing the efficiency of operations and the implementation of a number of ecological projects, the largest of which included the dedusting of the bell-less charging on both blast furnaces and the reconstruction of the fabric filter for sinter plant.

This year, the Třinec smelter will complete its investment in the heat treatment of rails. The most fundamental steps of the company now include the implementation of a transformation project that will lead to a fundamental change in steel production, the goal of which is a significant reduction of CO2 emissions, as mandated by the legislation of the European Union.

„The role of steel in industry is irreplaceable. Its ability to recycle, use in the segments of ecological transport, energy and modern engineering predisposes it to be a sustainable material of the future. Although the challenges of the Green Deal are very demanding for our company, we are already working intensively on the decarbonisation of steel production, “said Ján Moder, 1st Deputy Chairman of the Supervisory Board. He added that the project consists of ecologization of primary production, which will be based on the installation of a modern electric arc furnace.

However, according to him, for successful decarbonisation it is essential that there will be enough emission-free energy at competitive prices, enough scrap on the European market and effective protection measures at EU borders. Last but not least, also sufficient support from subsidy sources, because climate protection concerns everyone. He added that the Czech Republic cannot rely on imported steel but must consider it a strategic commodity.

The annual production of the Třinec steelworks is around 2.5 million tonnes of steel. The main products are mainly long rolled products - wire rod, shaped steel, special steel bars, drawn steel, rails, wide steel, seamless tubes and metallurgical semi-finished products. The company currently employs almost 7,000 people, together with its subsidiaries and affiliated companies, it employs up to 30,000 people.