LIBERTY Ostrava Reports Best Quarterly Results in a Decade
Czech Republic based integrated steel producer LIBERTY Ostrava has reported a very strong set of results for the second quarter of this year with EBITDA up 35% to CZK 2.6 billion (EUR 103 million) showing an excellent improvement on the already strong Q1 results and highlights the plant’s best quarterly performance since 2011. The revenues generated were CZK 13 billion (EUR 507 million), up 26% on Q1 2021 and more than double the same quarter in 2020. The plant therefore has reported EBITDA of CZK 2.6 billion (EUR 103 million) compared to CZK 2 billion (EUR 76 million) for Q1 2021.
For the quarter ending 30 June the steelworks shipped 684,000 tonnes of steel products, up 12% on the previous quarter to make it the best production quarter since 2017. The production for the quarter was almost 80% higher than the COVID-affected second quarter last year.
The continued improvement in the production performance has been underpinned by LIBERTY Ostrava´s flexibility, which allows it to switch its product mix between Long and Flat steel products depending on market dynamics. This adaptability has meant the plant has been able to effectively maximise returns from the strong Flats market over the last six months. The steelworks expects positive progress to continue in the second half of 2021 and is in the process of increasing its production towards 2.5 million tonnes for the year, up from around 1.7 million in the Covid-19 impacted 2020. It continues to be fully booked to run at full capacity.