Czech steelmaker Liberty Ostrava, part of GFG Alliance, said Aug. 26 it expects to increase 2021 production 47% year on year following a four-year high in steel product volume shipped in the second quarter.
The company is in the process of increasing its production toward 2.5 million mt for the year, up from around 1.7 million mt in the COVID-19-impacted 2020, it said in a statement.
In the second quarter, its steel product volume was 684,000 mt shipped, up 12% from Q1, and its highest quarterly volume since 2017. The company is fully booked to run at full capacity, it said.
This volume increase meant Liberty Ostrava’s Q2 EBITDA increased 35% to Koruna 2.6 billion ($121 million), its best quarter since 2011.
“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,” the company said.
“This adaptability has meant the plant has been able to effectively maximize returns from the strong flats market over the last six months.”
Liberty Ostrava is an integrated steel business with an annual production capacity of about 3.6 million mt/year serving primarily construction, machinery, and oil and gas industries. The company is a domestic leader in the manufacture of road barriers and tubes. In addition to the Czech market, it supplies products to more than 40 countries.
— Gianluca Baratti