Liberty Ostrava reports best quarterly financial results for decade in Q2

Thursday, 26 August 2021 15:56:21 (GMT+3)   |   Istanbul
       

Czech Republic-based steelmaker Liberty Ostrava has announced that it has achieved its best quarterly financial results for a decade in the second quarter of the current year.

In the second quarter this year, the company’s revenues amounted to CZK 13 billion ($598.78 million), up by 26 percent compared to the first quarter this year and more than double compared to the same quarter of 2020. In the given quarter, Liberty Ostrava’s EBITDA was CZK 2.6 billion ($119.77 million) compared to CZK 2 billion in the first quarter.

In the second quarter, the company shipped 684,000 mt of steel, up by 12 percent quarter on quarter. The company’s steel production in the given quarter was almost 80 percent higher than the pandemic-affected second quarter last year.  

The company expects positive progress to continue in the second half this year and is in the process of increasing its production towards 2.5 million mt for the year, up from around 1.7 million in the Covid-19-impacted 2020.

The company stated that it will continue to focus on improving production levels as well as accelerate its plans to become carbon-neutral by 2030.


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