Trasteel Group Announces First Half of 2026 Results Exceed Plan and Are Consistent with Current Projections for FY 2026
Key Highlights
- ➤Total revenue $1,192.4 million, up 40.0% YoY in H1 2026
- ➤H1 EBITDA $50.7 million, up 80.8% YoY
- ➤FY 2026 EBITDA projection remains $80-85 million
- ➤Trasteel acquired remaining BBC Alloys stake, reaching 100% ownership
- ➤La Magona operations expected to exceed 500,000 tons annually by end-2027
- ➤Sizzle II business combination expected to close by end-2026; listing ticker TSTL
Expert Statements
Gianfranco Imperato, CEO of Trasteel
“Trasteel’s results for the first half of 2026 demonstrates our team’s ability to deliver strong results in a challenging environment which exceeded the Company’s internal forecast.”
Gianfranco Imperato, CEO of Trasteel
“With EBITDA(2) of $50.7 million, up 81% year over year, our integrated model of global trading and industrial processing is delivering.”
Gianfranco Imperato, CEO of Trasteel
“The takeover of La Magona, the full ownership of BBC Alloys and the launch of QTrasteel in the MENA region strengthen our platform as we move toward our listing on Nasdaq with Sizzle II.”
Gianfranco Imperato, CEO of Trasteel
“The expected increase of steel international prices linked to deglobalization, and carbon taxes allows us to be extremely positive for the next future.”
Federico Guiducci, CFO & CIO of Trasteel
“Our first-half performance reflects disciplined execution and a continued focus on margins and risk management.”
Federico Guiducci, CFO & CIO of Trasteel
“Revenue grew approximately 40% to $1.19 billion, with gross profit of $105.9 million, while our largely self-liquidating, transaction-linked trade-finance structure continued to support our working-capital needs.”
Federico Guiducci, CFO & CIO of Trasteel
“These results provide a solid base relative to the FY 2026 projections relating to the Business Combination.”
First Half 2026 revenues +40% YoY for the period, reflecting continued execution of the Group’s trading and industrial strategy * First Half of 2026 (“H1”) Financial Performance(1): total revenues of $1,192.4 million (+40.0% from the prior first half of 2025 or “YoY for the period”); gross profit of $105.9 million (+36.9% YoY for the period); and operating profit of $37.0 million (+153.8% YoY for the period); * H1 2026 EBITDA(2) of $50.7 million (+80.8% YoY for the period); * FY 2026 Projections(3): revenues $2.1-$2.5 billion; gross profit of $200 million and EBITDA(2) of $80-85 million; * Strategic and Operational Execution: * On October 1(st), 2026, Trasteel took over the operations at the La Magona plant in Piombino (Italy), an historical Italian steel plant of galvanized and pre-painted coils. When fully operational, Trasteel expects La Magona to add production volume exceeding 500,000 tons by the end of 2027, resulting in significant revenues and EBITDA on an annual basis; * On September 30, 2026, Trasteel completed the acquisition of the remaining 40% interest of BBC Alloys, bringing its ownership to 100%; * On May 15, 2026, Trasteel announced the establishment of QTrasteel, a 50-50 joint venture with Al Qalaa International Group focused on expanding market access in the MENA region. LUGANO, Switzerland and BERTRANGE, Luxembourg, Oct. 13, 2026 (GLOBE NEWSWIRE) -- Trasteel Holding S.A. (“Trasteel” or the “Company”), a global steel trading and industrial group (the “Group”) headquartered in Lugano (Switzerland) and Luxembourg, today announced its financial results for the six months ended June 30, 2026, based on unaudited management figures, together with Trasteel’s management’s projections for the full year 2026 (“FY 2026”) (the “projections”). The Company believes these projections are consistent with those provided by Trasteel in connection with entry into the previously announced business combination agreement (the “Business Combination Agreement”) with Sizzle Acquisition Corp. II (“Sizzle II”) and which are expected to be included in Trasteel’s or its affiliate’s Registration Statement on Form F-4 (the “Registration Statement”) relating to this Business Combination.
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