Steel Mills
Severstal NA Posts Outstanding Results for Q1 and H1
Written by Sandy Williams
July 31, 2014
Severstal North America reported strong growth in sales volume in the second quarter, up 6 percent quarter over quarter. Revenue of $1.06 billion was 4.9 percent higher than the previous quarter driven by higher sales volume.
EBITDA was up a record 33.3 percent in second quarter to $100 million reflecting operational improvement at Severstal Dearborn and strong EBITDA per ton at Severstal Columbus.
For the first half of 2014, EBITDA at Severstal NA rose 86.2 percent year-over-year to $175 million. First half revenue totaled $2.082 billion, an increase of 10.6 percent y/y. Cash generation for SNA increased by a dazzling 344% y/y in the first half of 2014.
“SNA’s outstanding results this year are a testament to the transformation currently taking place across several critical areas – safety, talent, culture, operations, quality and commercial. Given the solid and sustainable platform that has been built over the last year, we are very excited about the future growth and profitability of our plants, especially in light of the recent news of their upcoming divestiture,” said Saikat Dey, CEO of Severstal North America.
SMU Note: Saikat Dey will be one of the keynote speakers at our Steel Summit Conference in Atlanta on September 3 & 4.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Cleveland-Cliffs quietly removes name from Steelton mill
The Cleveland-Cliffs name has been removed from its idled Steelton rail mill. SMU asked Cliffs about the move and if it might signal that it is selling the mill...
Nucor sees sequentially lower Q3 profits across all three business segments
Nucor's third-quarter earnings will be down quarter-over-quarter, but still higher than a year earlier.
Hyundai still on for Louisiana steel mill despite US raid at Georgia battery plant
Hyundai has reaffirmed its commitment to build a steel plant in Louisiana following a US government immigration raid at its battery facility in Georgia.
Hybar lowers output forecast, owning up to EAF startup delay
Hybar LLC’s rebar mill in Osceola, Ark., is now melting scrap and will soon be fulfilling orders, according to CEO David Stickler, despite a six-to-eight-week delay caused by commissioning the world’s first Aura electrical system.
Steel Dynamics guides to more metal, more money in Q3
Steel Dynamics Inc. is bullish heading into the close of the third quarter, with all three of its operating segments tracking higher.