Also, the company’s turnover was RON285.1 million (EUR64.2 million) in the first semester, similar to a year before.
In 2014, ArcelorMittal Hunedoara was one step away from being dissolved at the proposal of the company’s board considered after losses incurred in recent years brought the company’s net assets to share capital ratio below the legal requirement. At the end of last year, the company’s net assets were at RON231.13 million, while the share capital reached RON497 million.
In 2014, the company’s turnover was at RON581.6 million (EUR130.7 million) and registered a net profit of RON19 million after five years of losses.
“The company’s management believes it reestablished the shareholders’ trust through the positive yield of net assets in 2014, without a share capital inflow. June 30, 2015, the net assets yield was positive,“ according to a report of the company’s management board.
ArcelorMittal Hunedoara eyes sales of EUR122 million in 2015, from EUR65 million sales in the first semester, on the backdrop of a 20% higher volume of liquid steel compared with the budget for the current year.
According to the report, the liquid steel and profiles production increased 5% in January to June, while profile sales were up 6%. The company invested RON9.5 million in the first semester mainly in the europrofiles production.
The company’s productivity increased fourfold over the last five years, from 96 tons of raw steel per employee in 2009 to 470 tons in 2014.
ArcelorMittal Hunedoara significantly cut electric power costs after taking the decision to work in weekends. It employed 618 people in the first semester, compared with 572 during the same period a year before. The difference comes from the added staff of Mecanica Sider, which the company took over in 2014.
The company’s main shareholder is ArcelorMittal group, with 96.4%.
ArcelorMittal is the world’s largest steel maker. The group is led by Indian billionaire Lakshami Mittal and has steelworks and mining activities in 60 countries.
ArcelorMittal owns two steel plants in Romania, in Galati and Hunedoara, two pipe factories, in Iasi and Roman, harbor operator Romportmet Galati and the local unit of construction company ArcelorMittal Construction.
(English version by Manuela Panescu)