Romania-based steel producer Liberty Galati has announced very strong results for the second quarter of this year.
The company’s EBITDA increased by over 61 percent to RON 412 million (€84 million), its best results since 2008, while its turnover increased by 37 percent to RON 2.4 billion (€492 million), both quarter on quarter.
The company said that the plant is currently in the process of increasing its production towards 3 million mt for the year, from around 2 million mt in 2020, and achieving shipments of around 566,000 mt in the second quarter, seven percent more than in the first quarter. Additionally, the Galati plant has made further progress on the strategic projects required to transform the plant to carbon neutrality by 2030.
“The Galați team have delivered yet again, building on their great start to the year to deliver another set of record results. I am now looking for the team to increase their production even further as well as push on with their move towards Greensteel and true carbon neutrality,” Sanjeev Gupta, executive chairman of Liberty Steel Group, said.