Tata Steel’s operations in the UK and the Netherlands have seen an improvement in earnings during its quarter ended June 30, Kallanish learns from its exchange filings.
In the UK, revenues were at £536 million ($712m) for the first quarter of its full year 2026, with an Ebitda loss of £41m, narrowing from a loss of £80m the previous quarter.
Deliveries stood at 0.60 million tonnes, marginally lower from 0.63mt quarter-on-quarter and 0.68mt year-on-year. The decline is linked to subdued demand.
Tata notes decreased raw material costs for the UK segment primarily due to lower purchase of substrate during the quarter relative to Q4. It reported a slight increase in revenues, “primarily driven by higher realisations despite moderation in volumes.”
The earnings filings mention that global steel prices moderated between April and June. In the UK, “steel prices are still below year ago levels,” the company adds.
European steel demand has been affected by macro dynamics and policy uncertainty regarding global trade. The UK economy was in fragile state, with steel prices affected by mismatch between local demand and safeguard quotas.
In the Netherlands, revenues were €1.519 billion ($1.74 billion) for the quarter with Ebitda of €64m, rising from €14m the previous quarter.
Liquid steel production was 1.7mt, down on-quarter from 1.63mt and 1.69mt on-year. Deliveries stood at 1.5mt, down from 1.75mt q-o-q but up from 1.47mt y-o-y.
Tata recorded higher raw material for iron ore and ferroalloys costs in the Netherlands, as well as an inventory buildup.
T V Narendran, chief executive and managing director, states: “In UK, we recently had the groundbreaking ceremony for the EAF at Port Talbot which marks yet another milestone in our journey to become a sustainable green steel operations. In Netherlands, our liquid steel production was 1.7mt and was close to rated capacity and performance was aided by favourable sales mix and higher realisations in the downstream business.”
Tata reported an increase in profits for its Q1 results on a consolidated basis.
Narendran says the company had demonstrated robust profitability across geographies despite volatile global macro conditions and heightened uncertainty.
Carrie Bone UK
