Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Romania’s Liberty Galati achieved its strongest first-quarter results since 2008, in Q1 2021 with a stronger forecast for Q2 2021 following a rise in its production capabilities and a growth in sales. The company shipped 531,000mt of steel in Q1 2021.


Liberty Galati is also embarking on a range of projects to expand the quality and range of product mix with the strategic objective to reach carbon neutrality by 2030. The projects include the installation of two electric arc furnaces (EAFs), a direct reduced iron plant, a hydrogen production plant, and renewable energy fields. The company is merging with other regional Liberty assets to optimize operational integrity.


Liberty Galati reported revenues of €359mn and EBITDA of €52mn in Q1 2021. In 2020, the Romanian steelmaker posted revenues for €1bn and EBITDA of €38mn with steel shipments of 2mn mt. The company’s revenue and production began to recover in H2 2021 after COVID-19 related lockdowns eased. Its Q2 2021 earnings are anticipated to closely resemble the full 2021 results. 





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