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Tata Steel European Operations Q2 Update

Steel News - Published on Fri, 08 Nov 2019

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In 2QFY20, Tata Steel Europe liquid steel production was impacted by weak market conditions, planned summer shutdowns and unplanned outages. Revenue from operations decreased to INR 14,035 crores in 2QFY20 due to weaker steel prices; partially offset by marginally better sales volumes. Sales volumes increased by 1.2%QoQ to 2.29 million tonnes. 2QFY20 EBITDA stood at INR 165 crores.

Tata Steel Europe has launched a transformation program to make operations simpler, leaner and sustainable for long-term success. During the quarter, it completed the sale of First Steel business, UK and Cogent Power Inc, Canada. It is also working to close or sell Orb Electrical steels in South Wales. Wolverhampton Engineering Steels Service Centre in UK and Degel business in Germany.

Tata Steel Europe continues to strengthen its sales mix. It launched three new products during the quarter. During the quarter, high-value differentiated product sales exceeded 39%

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Posted By : Rabi Wangkhem on Fri, 08 Nov 2019
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