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
Algoma fires up EAF steelmaking with first arc
Algoma Steel reached a milestone in its transformation from blast furnace to electric arc furnace (EAF) steelmaking, with its Unit One EAF achieving its first steel production this week.
Nucor holds HR list price at $910/ton
Nucor is keeping its list price for spot hot-rolled coil unchanged after last week’s shortened holiday week.
Cliffs unveils new hydrogen-powered stainless line in Ohio
CEO Lourenco Goncalves, flanked by state leaders and union reps, touted the project as proof that US manufacturing is not only alive, but also advancing.
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.