Steel Mills
Severstal NA Posts Outstanding Results for Q1 and H1
Written by Sandy Williams
July 31, 2014
Severstal North America reported strong growth in sales volume in the second quarter, up 6 percent quarter over quarter. Revenue of $1.06 billion was 4.9 percent higher than the previous quarter driven by higher sales volume.
EBITDA was up a record 33.3 percent in second quarter to $100 million reflecting operational improvement at Severstal Dearborn and strong EBITDA per ton at Severstal Columbus.
For the first half of 2014, EBITDA at Severstal NA rose 86.2 percent year-over-year to $175 million. First half revenue totaled $2.082 billion, an increase of 10.6 percent y/y. Cash generation for SNA increased by a dazzling 344% y/y in the first half of 2014.
“SNA’s outstanding results this year are a testament to the transformation currently taking place across several critical areas – safety, talent, culture, operations, quality and commercial. Given the solid and sustainable platform that has been built over the last year, we are very excited about the future growth and profitability of our plants, especially in light of the recent news of their upcoming divestiture,” said Saikat Dey, CEO of Severstal North America.
SMU Note: Saikat Dey will be one of the keynote speakers at our Steel Summit Conference in Atlanta on September 3 & 4.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."