Ispat International N.V posts Q4 results

Ispat International N.V posts Q4 results

Ispat International N.V has recently posted its fourth quarter results of 2003. Accordingly, the company posted a net income of $11 million in the fourth quarter against the net profit of $51 million recorded in the corresponding quarter of 2002. Company also reported consolidated sales of $1.4 billion and an operating income of $22 million in the same period. These figures were recorded as $1.3 billion and $29 million in the same quarter of 2002, respectively. Shipments increased to 3.8 million tons, up by 1%. Apart from these results, the company concluded the quarter with a debt of $2.3 billion. When fourth quarter results of the subsidiaries of Ispat International N.V are examined, it is observed that Ispat Inland reported a net sales of $549 million, Ispat Mexicana $233 million, Ispat Sidbec $149 million, Caribbean Ispat Ispat-Steel $59 million, Caribbean Ispat-DRI $36 million, Ispat Europe Group $305 million.