Displaying items by tag: Results

US: Harsco’s Environmental division has driven its parent group’s revenue in 2021 as services and product demand increased. Its revenue rose by 17% year-on-year to US$1.07bn in 2021 from US$914m in 2020. Its operating income grew by 75% to US$103m from US$59m. Overall group revenue and operating income increased by 20% to US$1.85bn and from a loss of US$3.3m in 2020 to a profit of US$88.4m respectively.

“For the fourth quarter, our businesses continued to benefit from increased environmental solutions demand, and I'm pleased to have met our expectations for the quarter. However, steel volumes slowed through the fourth quarter in some markets, inflation pressures persisted, and labour-market tightness and Omicron impacted productivity. We were able to offset these pressures by controlling our overall spending in the fourth quarter,” said chairman and chief executive officer Nick Grasberger. He added that the group expects to see further improved operating results from its Environmental division in 2022.

US: Harsco Corporation recorded net sales of US$1.85bn in 2020, up by 23% year-on-year from Euro1.50bn in 2019. The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 10% to US$238m from US$265m. Harsco Environmental’s fourth quarter net sales rose by 2% to US$246m from US$243m. Its adjusted EBITDA rose by under 1% to US$52.0m from US$51.0m. The company attributed the division’s growth to higher demand for applied products and lower general and administrative spending, partially offset by a less favourable services mix and contract changes.

Chairman and chief executive officer Nick Grasberger said, “Against a challenging market backdrop in 2020, Harsco made significant progress on its strategic, operational and financial objectives. While the disruption caused by the global pandemic could not have been predicted, our teams executed well, with a consistent focus on our key priorities – operating safely, serving customers, preserving financial flexibility and executing our Environmental Solutions business from Stericycle (ESOL) integration and operational recovery plan in Rail.”

Luxembourg: ArcelorMittal’s sales fell by 2% year-on-year to US$38.5bn in the first half of 2019 from US$39.2bn in the same period in 2019. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) dropped by 43% to US$3.21bn from US$5.59bn. Crude steel production volumes rose by 3% to 47.8Mt from 46.5Mt.

"After a strong 2018, market conditions in the first half of 2019 have been very tough, with the profitability of our steel segments suffering due to lower steel prices combined with higher raw material costs,” said Lakshmi N Mittal, ArcelorMittal’s chairman and chief executive officer (CEO). He added that the company had recued its production capacity in Europe in responses to global overcapacity.

US: Harsco’s sales revenue from its Metals & Minerals division rose by 5.7% year-on-year to US$1.07bn in 2018 from US$1.01bn in 2017. Its operating income increased by 18% to US$121m from US$102m. It said that its Metals & Minerals' revenues were positively impacted by higher customer steel output and related demand for mill services, new contracts, higher commodity prices, increased applied products sales and the acquisition of Altek Group. Overall, the group’s revenue and operating income rose in 2018.

“2018 marked another year of successful execution against our priorities and we again delivered meaningful financial improvements,” said chairman and chief executive officer (CEO) Nick Grasberger.

Ireland: Ecocem Material’s pre-tax profit fell by 37.5% year-on-year to Euro2.5m in 2017 from Euro4m in 216. Its costs rose by nearly 12% to Euro76.5m from Euro68.6m and its interest bill more than doubled to Euro0.3m, according to the Irish Times. The slag cement producer turnover increased by 9.4% to Euro79.4m from Euro72.6m.

Russia: Evraz’s consolidated crude steel output fell by 5.5% year-on-year to 3.3Mt in the first quarter of 2018. The steel producer blamed the fall on lower pig iron production due to iron ore supply issues in relation to poor weather in January and February 2018. It also attributed the decline to technical issues with blast furnaces #1 and #3 at its Zsmk plant, a shutdown of the blast furnace #6 at Ntmk and the divestment of its Ukrainian Dmz subsidiary in March 2018. Total steel product sales dropped by 5.7% due to lower crude steel production. Sales of semi-finished products fell by 16.6%, primarily due to reduced pig iron and crude steel production. This was partly offset by a 5.7% increase in the output of finished products, mainly for the construction industry.

US: Harsco’s sales revenue has fallen by 16% year-on-year to US$1.45bn in 2016 from US$1.72bn in 2015. Its adjusted operational income, excluding unusual items, fell by 14% to US$116m from US$135m. The steel services company blamed the falling sales on lower revenues from its Metals & Minerals and Industrial divisions despite a pick up in income in its fourth quarter.

“2016 proved to be a turning point for Harsco. We exceeded the key financial targets established at the beginning of the year, despite persistent end-market weakness,” said president and chief executive officer Nick Grasberger.

UK: Rio Tinto’s production of titanium dioxide slag has fallen by 24% year-on-year to 246,000t/year in the first quarter of 2016. The company said that its Iron and Titanium division had optimised production in line with demand. It reported that two of nine furnaces at Fer et Titane, Canada and one of four furnaces at Richards Bay Minerals, South Africa are currently idled due to low demand for high-grade feedstocks.

"In the face of a testing external environment, our focus remains on delivering further cost and productivity improvements, disciplined capital management and maximising free cash flow, to ensure that Rio Tinto remains strong," said chief executive officer Sam Walsh. Production in iron ore, bauxite and aluminium increased in the quarter but production in copper and coal decreased.

US: Harsco Corporation has reported that revenue from its Metals & Minerals division dropped by 19% year-on-year to US$1.11bn in 2015 from US$1.78bn in 2014. Overall company sales revenue across all businesses fell by 17% to US$1.72bn from US$2.07bn. The fall in sales was attributed to a decline primarily in the Metals & Minerals and Industrial divisions due to falling steels and related commodities demand, site exits and currency effects.

The company expects that the market will further deteriorate for its Metals & Minerals division in 2016 due to lower steel production, site exits and weaker commodities demand. To fight this trend the company is continuing to implement ‘Project Orion,’ it’s Metals & Minerals improvement plan.

South Africa: Steel maker Evraz Highveld Steel and Vanadium has reported a 21% drop in steel production for the second quarter of 2015, which ended on 30 June 2015, due to weak domestic demand and a surge of cheap Chinese imports, according to Business Day.

Evraz, which is currently in business rescue, said that hot steel production declined to 119,027t in the second quarter of 2015 from 150,510t in the first quarter of 2015. Hot steel output was 38% lower year-on-year. Vanadium slag output fell by 18% in the second quarter to 1.47Mt, mainly due to lower demand and excess supply.

"The domestic market remains under pressure as a result of poor demand further exacerbated by a surge of low price imports from China," said Evraz. During the first quarter of 2015, which ended on 31 March 2015, 488,000t of steel was imported, amounting to almost half of what was imported during all of 2014.