Matt Atlas

Ostrava Steelworks Reports 2018 Net Profit Of CZK 4 Billion

Liberty Ostrava, formerly ArcelorMittal Ostrava posted a net profit of CZK 4.1 billion in 2018. An increase of over 23% year over year. The company attributes the positive growth to increasesd production and higher margins due to favorable conditions in the steel market.

Liberty Ostrava produced 2.2 million tons of steel in 2018, up from 1.8 million tons in the previous year.

Last month, the company announced it would temporarily cut production by 20% due to the increased cost of steel imports from outside the European Union.