Ispat Nova Hut expects $170 million EBITDA for this year
The largest integrated steel producer in the Czech Rep., Ispat Nova Hut stated that they expect gross earnings to duplicate with EBITDA forecasted to reach to CZK 4.8 million ($170 million) and sales to CZK 31 billion (around $ 1 billion). Same were recorded as $76.2 million and 27.9 billion respectively, in 2002. These optimistic forecasted earning results are attributed to cost savings in production. Moreover, Ispat Nova Hut which joined the LNM Group in January 2003, gained a CZK 2.93 billion gross profit in the first half of this year.