Letter from the Chairman

The 2025 financial year took place against a global backdrop marked by geopolitical uncertainty, trade tensions and an energy transition progressing at different pace across regions. In Europe, this context is further shaped by a demanding regulatory framework on climate and sustainability, which is redefining expectations regarding the role of companies and their value chain.

From the perspective of steel processors and end-users, the performance of the European market is a direct reflection of the state of industrial and manufacturing activity. After several years of contraction, demand is showing signs of stabilization, albeit in a still fragile environment, constrained by the weakness of certain sectors and significant import pressure. This context demands progress in efficiency, competitiveness and resilience, incorporating sustainability as a factor to strengthen Europe’s industrial base.

Against this backdrop, and since our founding more than 65 years ago, Gonvarri Industries has established itself as a global leader in the processing of flat steel, aluminium and other metal solutions, playing a leading role in innovative industrial projects and providing efficient, safe and sustainable solutions. This Report outlines the company’s progress in sustainability over the past year, reflecting our commitment to environmental, social and governance dimensions within our business model, in line with our purpose: “Doing Well by Doing Good”.

As a family-owned industrial company with a clear focus on longevity and long-term value creation, at Gonvarri Industries we approach decarbonisation and the circular economy not as short-term trends, but as structural transformations that will shape the way the industry operates in the coming decades. Anticipating these changes and adapting our processes is key to remaining competitive and resilient over time.
Our Carbon Neutral 2030-2050 Plan, approved by the Board of Directors, sets clear emission reduction targets and relies on levers such as energy efficiency, electrification, the use of renewable electricity and new local energy sources. In recent years, our energy consumption mix has become increasingly electrified, with a rise in the amount of renewable energy consumed.

The circular economy is establishing itself as a medium-term lever for decarbonisation and industrial competitiveness. In the case of steel, an infinitely recyclable material, it enables improved resource efficiency and a reduced environmental footprint throughout the product lifecycle. At Gonvarri Industries, we view this challenge as an opportunity to innovate and collaborate with customers and suppliers, moving towards more efficient and sustainable metal solutions.
The progress made has been backed by significant external recognition, such as the EcoVadis Gold Medal and a B rating from CDP on climate change, which we see as an incentive to continue improving.

I would like to thank our employees for their efforts and express my gratitude for the trust placed in us by our customers, suppliers, partners, financial institutions and local communities. To our shareholders, I reaffirm the Board’s commitment to building a profitable and sustainable company, guided by the values of our founder.

Jon Riberas
Executive Chairman
Gonvarri Industries