Record annual sales for Reliance

Reliance Steel & Aluminum, parent company for metalweb, delivered a strong set of results for the financial year ended 31st December 2014. Sales were a record $10.45 billion, up 13.3% from $9.22 billion in 2013. Tons sold were up 13.0% on the previous year and the average selling price per ton also increased by 0.4%.

David H. Hannah, Chairman and CEO of Reliance, said: “We achieved solid growth last year and are pleased with our strong operational execution. Underlying demand momentum in the fourth quarter remained strong and our sequential quarter 4.9% reduction in tons sold was better than the MSCI Industry average decline of 7.6% in the quarter.  We also significantly outpaced the industry for the full year with a 6.1% increase in same store tons sold compared to the MSCI Industry average increase of 4.2%.

“We also completed three acquisitions that complement the Reliance family of companies in terms of geographic footprint, end market diversification and product mix. Our healthy balance sheet and confidence in our operational execution provides a strong foundation for us to continue investing in the growth of our business.”

Aerospace demand continued to improve during 2014 and is expected to improve further throughout 2015. Automotive is expected to continue at its current, strong production rate this year and the increase in aluminum usage in this sector continues to represent a growth area for Reliance.  The non-residential construction market also looks likely to pick up.