Czech Republic-based steelmaker Liberty Ostrava has announced that it has reported its best quarterly production since 2017 in the second quarter of the current year.
In the second quarter this year, the company shipped more than 600,000 mt of steel products, with production for each month around 200,000 mt, the highest sustained monthly levels since 2008. In the given quarter, the company’s steel production was almost 80 percent higher than in the coronavirus-affected second quarter last year.
The company forecasts that its EBITDA for the second quarter will be significantly more than the €60 million the company reported for the first quarter, which was the company’s best quarterly performance since it was acquired by GFG Alliance in July 2019.
According to the company’s statement, the continued improvement in the plant’s production performance has been underpinned by the plant’s flexibility, which allows it to switch its product mix between long and flat steel products depending on market dynamics.
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.