The UK, which at peak level was losing £300-400 million, has come a long way — Tata Steel UK EBITDA in FY22 stood at £215 million
’s European story is a tale of two halves: The well-configured, efficient and bigger steelmaking site is in the Netherlands and the high-cost plant with structural inefficiencies is in the UK.
Numbers reflect this. A record rally in steel prices led to a stellar showing by Tata Steel
Europe in FY22 and Q1FY23. The EBITDA in FY22 — at £1.2 billion (Rs 12,164 crore) — was the highest ever since Tata Steel’s £6.2-billion acquisition of Corus in 2007.
In Q1FY23, Europe EBITDA at £621 million (Rs 6,037 crore) was the best ever quarter. But the bulk of that would have come from the Netherlands, typically accounting for about 75 per cent.
First Published: Aug 03 2022 | 5:48 PM IST