Vítkovice Steel reports profit for 2023 after many years of losses

The Ostrava-based company Vítkovice Steel has reported a profit of 330.8 million crowns for the year 2023, its best economic result in over fifteen years, said their spokeswoman Jana Dronská today. The steelworks, which are an iconic business in the Silesian city, made a profit after many years of losses, with its loss in 2022 amounting to 550 million crowns.

The Czech steel industry is still facing serious problems, but the acquisition of a new financial partner and an increase in production helped the company to achieve the positive result. Vítkovice Steel is a traditional European manufacturer of rolled steel products, which has over 800 employees and exports to over fifty countries.