AM/NS India reports jump in Q1 earnings, further expansion plans

The joint venture between ArcelorMittal and Nippon Steel, AM/NS India, has reported solid financial results for the first quarter of 2021, while planning further growth.

AM/NS India’s operations were affected by the lockdown measures imposed to combat the Covid-19 pandemic during the second quarter of 2020, but since these measures have been removed, demand has improved and the company’s assets were now running at higher utilization levels.

On the basis of strong demand, it reported first-quarter earnings before interest, taxes, depreciation and amortization (Ebitda) of $403 million, compared with $274 million in the preceding quarter. Maintained over a full year, this would be equivalent...

Published

Carrie Bone

May 10, 2021

16:40 GMT

London