Liberty Steel Group’s Czech arm, Ostrava, is targeting a production of 2.5mn mt by the end of this year which is about 70pc capacity of the total, compared to the pandemic-hit 1.7mn mt output in 2020. 

 

In its latest earnings report, the company said that it shipped out 684,000mt of steel products in Q2 2021, up 12pc on the same quarter last year while production rose 80pc, marking the highest quarterly output since 2017. The order books are compelling Liberty to move toward full capacity utilization of 3.6mn mt. 

 

Liberty Ostrava posted Q2 revenue of CZK13bn ($598.5mn), doubled from Q1 2020, and an increase of 26pc from the first quarter of 2021. EBITDA for Q2 2021 was reported at CZK2.6bn, compared to CZK2bn in Q1 2021. The company said that its increased performance was owed to production flexibility to switch between long and flat steel production over the course of the quarter, depending on market demand. 

 

($1=CZK21.72)

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