AM/NS India Ebitda up 208% at $499 mn
Business Standard|February 09, 2024
ArcelorMittal Nippon Steel India (AM/NS India) reported a 208 per cent increase in earnings before interest, tax, depreciation, and amortisation (Ebitda) at $499 million in the October-December quarter, driven by higher steel shipments.

Ebitda was $162 million in the year-ago period. Sequentially, Ebitda was 6.4 per cent lower compared to $533 million in the previous quarter, which included a lower impact from natural gas hedges.

AM/NS India achieved a record crude steel production in December 2023, reaching an 8.1 million tonne (mt) run rate, close to the 8.6 mt capacity debottlenecking target.

Crude steel production in the October-December quarter stood at 1.96 mt, 21 per cent higher than 1.62 mt in the year-ago period; steel shipments at 1.87 mt were 17.6 per cent higher than 1.59 mt in the year-ago period.

For the full year ended December 2023, AM/NS India Ebitda stood at $1.9 billion compared to $1.2 billion in the previous year.

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