Steel Mills
April 30, 2014
Record EBITDA for Severstal Columbus
Written by Sandy Williams
Severstal NA reported revenue of $1,016 million in first quarter 2014, an increase of 1.4 percent from fourth quarter due to stronger steel selling prices. Revenue increase 9.2 percent year over year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 18.5 percent sequentially to $75 million but was 50 percent higher than Q1 2013. Dearborn production was affected by weather and high natural gas costs. Despite increased scrap prices and utilities, Severstal Columbus posted a record EBITDA in Q1 of $113/ton.
