Liberty Steel Galati Posts Strong Performance in Q2 of 2021
Liberty Steel’s Romanian subsidiary Liberty Steel Galati continued to improve its performance in Q2 of 2021 after already strong results of Q1 2021. In Q2, it generated a revenue of RON 2.4 billion (EUR 492 million) and EBITDA of RON 412 million (EUR 84 million), up by 37% and 61% from Q1 2021, which was already the best quarter since 2008. Its shipments increased by 7% QoQ to around 566,000 tonnes, in line with plans of raising production to 3 million tonnes per annum from 2 million tonnes in 2020 .
Liberty Steel Group Chairman Mr Sanjeev Gupta said "The Galati team have delivered yet again, building on their great start to the year to deliver another set of record results. I am now looking for the team to increase their production even further as well as push on with their move towards GREENSTEEL and true carbon neutrality."