Celsa Steel’s board of directors has approved a major financial restructuring plan involving €800 million to address its debt issues. Under this plan, the company’s shareholders will contribute €200 million to the share capital, while an additional €600 million will come in the form of a subordinated loan. This move aims to stabilize the company’s financial position and unlock new opportunities for growth.
To approve the new financing scheme, Celsa has scheduled an extraordinary shareholders’ meeting for December 4. Once approved, all changes are expected to be implemented as quickly as possible, depending on financial market conditions. The company also plans to enter the debt capital markets to further strengthen its position.
In 2024, Celsa Steel faced serious financial difficulties: although revenues amounted to €3.36 billion, the bottom line was negative, with a loss of €281 million. The main reason is a significant debt burden inherited from the previous period when the Rubiralta family managed the company. After control shifted to credit funds, the debt was reduced by nearly half, but still exceeds €1.9 billion.
A new chapter for Celsa: investment and streamlining
The completion of the financial reorganization process became possible thanks to the sale of assets in Northern Europe and the United Kingdom. These measures helped further reduce debt and paved the way for future restructuring. A turning point came when the commercial court in Barcelona approved the restructuring plan proposed by creditors. As a result, the founding family lost control of the company, and its development strategy was completely revised.
At the same time, Celsa launched an investment program funded by a capital increase of 166 million euros. Most of this amount has already been invested, significantly boosting operating profits. The company’s management is confident that these steps will drive substantial economic growth and bring financial results back into the black as early as next year.
Industry outlook and company expectations
In the near future, Celsa expects to benefit from favorable conditions in the steel market. Demand is projected to grow as the construction sector revives and the European Union introduces new protective measures and tariffs. These factors should support the industry’s recovery and create a foundation for the company’s sustainable development.
Celsa Steel is betting on comprehensive financial restructuring and active investment to overcome the consequences of past mistakes and reclaim its leading position in the market. The company faces a period of transformation, which could mark the beginning of a new, successful chapter in the history of the Catalan steel giant.
