Financial and Operational Results
| Unit | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Steel production | thousand tons | 617 | 850 | 973 | 855 | 758 | 972 | 595 | 680 |
| Railway product production | thousand tons | 112 | 175 | 187 | 208 | 190 | 172 | 84 | 100 |
| Pipe production | thousand tons | 445 | 587 | 677 | 587 | 464 | 615 | 393 | 395 |
| Revenue | million US dollars | 507 | 806 | 1,074 | 1,122 | 865 | 1,133 | 981 | 989 |
| EBITDA* | million US dollars | 46 | 120 | 158 | 259 | 273 | 228 | 204 | 337 |
| EBITDA margin | % | 9% | 15% | 15% | 23% | 32% | 20% | 21% | 34% |
| Capex** | million US dollars | 38 | 43 | 44 | 60 | 44 | 63 | 21 | 31 |
| Free cash flow*** | million US dollars | 8 | 41 | 66 | 133 | 121 | -2 | 142 | 147 |
* - EBITDA is calculated as operating profit or (loss) plus depreciation and amortisation charge, plus impairment of property, plant, equipment and intangible asset, plus loss / (gain) on disposal of property, plant and equipment, plus foreign exchange cash flow hedges effect, plus extraordinary losses / (gains) and plus operating foreign exchange gain/(loss).
** - Capex figure represents line Purchases of property, plant and equipment and intangible assets as part of net cash flow from investing activities.
*** - Free Cash Flow is calculated as net cash flow from operating activities less net cash flow from investing activities (excluding non-recurring items).
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