Nordwest Handel, one of two large cooperatives for the purchase of steel, hardware and household appliances in Germany, increased revenue in the steel segment in the first quarter by 8% year-on-year to 393 million euros ($447 million).
The organization attributes the significant increase to higher prices compared to Q1 2024, as well as higher sales, which it does not specify. Nordwest processes about 1 million tons of steel per year.
Despite the weak activity in construction, the company increased its import volumes and established new partnerships with suppliers, Kallanish notes. Nordwest is a partner of the pan-European purchasing cooperative Astedis. However, it argues that 2025 will remain a difficult year for steel distribution due to the critical weakness of the construction sector.
The sales growth in the first quarter was driven by a 4.4% increase in sales in the second half of 2024. However, due to falling demand and prices, sales in 2024 decreased by 11% compared to the previous year, amounting to 1.509 billion euros, according to Nordwest
Christian Kel Germany
kallanish.com
