Paul Wurth, which specialises in the design and construction of complete blast furnaces and coal-fired furnaces, posted net turnover of €122.5m in 2023. This is slightly down compared to the previous year (€125.4m). On the other hand, Paul Wurth increased its profits by more than 197%, from €13.4m in 2022 to €39.8m in 2023. Most of its sales come from its metallurgy activities.

Contacted by Delano’s sister publication Paperjam, SMS Group explains that the increase in profits “is mainly due to a non-recurring impact of portfolio adjustments, mainly within SMS Group.”

In 2023, Paul Wurth recorded a total contract amount of new orders of €203.3m, down 4.6% from the €213.2m recorded in 2022. However, this comparison does not fully reflect the impact of geopolitical conditions in 2022, when substantial orders from Russia, valued at €163.6m, were cancelled.

After adjustment, the figures for 2022 were considerably reduced, to just €49.6m. So, despite the appearance of a year-on-year decline, orders for 2023 actually represent a significant increase on actual activity in 2022. Whereas in 2022, Russia accounted for 19% of orders, in 2023 these were no more than 0.1%. “Russia is not having a major financial impact, but it is of course a loss of a market that will have to be replaced by other activities elsewhere,” points out SMS Group.

In 2023, almost two-thirds of orders were placed in the European Union (except Luxembourg). Turkey and India rounded out the regions with the most orders. The domestic market accounted for only 0.14% of delivered orders.

Total world steel production amounted to 1.888bn tonnes in 2023. This figure is virtually unchanged from 2022. However, the EU produced 126.3m tonnes of crude steel in 2023, down 7.4% versus the previous year.

Paul Wurth continued to focus on technologies for the production of high-quality, low-carbon steel, spending €12.8m on R&D, or 10.0% of sales. The company develops digital solutions such as BFXpert™, a blast furnace control and optimisation system, which has been successfully deployed in Turkey, India and Brazil. The company is involved in hydrogen projects, including the operation of a high-temperature electrolyser at the Salzgitter steel plant (Germany) and participation in the German government-funded GrInHy3.0 project. Paul Wurth has also been involved in significant projects in the engineering, supply and construction of a hydrogen-fuelled direct reduction plant for Thyssenkrupp Steel Europe, aimed at producing 2.5m tonnes a year of green direct reduced iron (DRI). .

In 2023, Paul Wurth continued to optimise its organisational structure and business portfolio. The company sold its shares in Paul Wurth Italia and Paul Wurth Deutschland to affiliates of SMS Group, while exchanging its shares in Paul Wurth India Private for shares in SMS India Private. In addition, Paul Wurth sold its stake in CTI Systems to third parties.

In Luxembourg, Paul Wurth holds 99.99% of Paul Wurth Geprolux, 99.98% of Paul Wurth International and 50% of TMT Tapping Measuring Technology. In the Czech Republic, it owns 100% of Paul Wurth. In Brazil, it controls 99.99% of Paul Wurth do Brasil Tecnologia E Soluções Industriais. In China, it owns 100% of Paul Wurth Metal Technology (Beijing) Co. In Russia, it also owns 100% of Paul Wurth Metallurgical Service. In Japan, Paul Wurth owns 50% of Paul Wurth IHI. In Germany, it owns 50% of TMT Tapping Measuring Technology.

This article was first published in French on . It has been translated and edited for Delano.