US Steel Kosice, Slovak subsidiary of Pittsburgh, Pennsylvania-based US Steel, has announced that in 2010 its sales revenue almost recovered to its pre-crisis peak. After the 40 percent fall recorded in 2009, the company's sales revenue increased by 39 percent year on year to €2.621 billion in 2010. EBIT for the year amounted to €133 million, up by 20.9 percent, while net profit reached €96 million, up 17 percent, both on year-on-year basis.
According to US Steel Kosice's 2010 financial report, the positive financial performance was made possible by the increase in production operations, thanks to the recovery from the global economic crisis. On the other hand, a considerable growth in raw material prices negatively affected the 2010 financial results, as well as expenditure for development and upgrade projects which totaled €105 million in 2010.