AM/NS India Reports 186% YoY Surge in EBITDA in 2021

ArcelorMittal Nippon Steel India has achieved record levels of production, shipments and EBITDA in 2021. It reported an EBITDA of USD 2 billion compared to USD 0.7 billion in 2020. Crude steel production in 2021 at 7.4 million tonne was higher by 11.7% YoY and steel shipments at 6.9 million tonne saw an increase of 10.4% YoY. AM/NS India Chairman Mr Aditya Mittal said “We are getting more out of our existing operations at Hazira through debottlenecking and are on track to achieve 8.8 million tonnes capacity by the end of next year. And we are creating new capacity to support India’s growth. India is a vibrant market and we remain committed to playing a strong and responsible role in helping India achieve its ambitions.” ArcelorMittal Nippon Steel India has reported a 58.7% YoY increase in EBITDA in the October-December 2021 quarter to USD 435 million on higher realisation. However, AM/NS India’s EBITDAin October-December 2021 quarter was 21% lower as compared to USD 551 million in uly-September 2021 quarter primarily due to lower steel selling prices and higher costs, including coking coal % power costs. Crude steel production was 1.84 million tonnes compared to 1.88 1.84 million tonnes in the year-ago period. ArcelorMittal’s share of income in JV and associates stood at USD 2.2 billion in 2021 of which AM/NS India accounted for USD 0.9 billion. Its other JV and associates include Calvert, VAMA and China Oriental.

AM/NS India Reports 186% YoY Surge in EBITDA in 2021

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