Třinecké železárny (TŽ) is a Czech steel company that has been making headlines for its impressive financial performance in recent years. Despite facing numerous challenges, including supply chain disruptions and an energy crisis, the company has increased its profits and expanded its market share.
In 2021, TŽ’s profits reached 1.306 billion Czech korunas. In 2022, however, the company’s profits skyrocketed to 2.393 billion korunas, an increase of over 83%. This impressive growth was mainly due to a 13.887 billion koruna increase in the company’s revenues, which rose by nearly a third to 57.602 billion korunas.
TŽ’s success is all the more remarkable considering the numerous headwinds the company faced in 2022. These included the ongoing war in Ukraine, which disrupted the supply of raw materials such as iron ore, and the ongoing energy crisis. Despite these challenges, TŽ stabilized its production and increased its market share.
One of the keys to TŽ’s success has been its focus on innovation and automation. In 2022, the company invested over 1.8 billion korunas in new technology, including a state-of-the-art peeling line for steel rods and a new electric arc furnace that will be used to produce steel from scrap metal. These investments have not only helped to increase production efficiency but have also enabled TŽ to reduce its carbon footprint.
TŽ’s success has not gone unnoticed. The company is the largest steel producer in the Czech Republic, with almost 7,000 employees and an additional 3,000 workers in its subsidiaries. In 2022, TŽ increased its share of the domestic raw steel market to 57%, a testament to its ability to adapt and thrive in a challenging economic environment.
Looking ahead, TŽ has ambitious plans for the future. The company is currently working on a major project known as Green Werk, which aims to reduce the company’s greenhouse gas emissions even further. This project includes the construction of a new electric arc furnace and transitioning from fossil fuels to renewable energy sources.
Třinecké železárny’s success story is a testament to the company’s resilience, innovation, and commitment to sustainability. Despite facing numerous challenges, the company has increased its profits, expanded its market share, and reduced its carbon footprint. As TŽ continues to invest in new technology and pursue its ambitious Green Werk project, it is poised to continue its success story for years.