Structural Improvements in EBITDA
Third quarter EBITDA per tonne was $111, which is 25% above the historical average margin, demonstrating positive impact from asset optimization and growth strategy.
Positive Free Cash Flow Generation
Excluding working capital, 9 months free cash flow was approximately $0.5 billion positive, even after investing close to $1 billion in strategic growth projects.
Strong Performance in Europe
Encouraging outlook due to new trade tools proposed by the European Commission, which could lead to healthier capacity utilization levels.
North America Performance
Record level of shipments at Calvert, with strong operations in Canada and good performance from the HBI DRI plant in Texas.
Dividend and Share Repurchase Strategy
Over the past 5 years, the company grew its dividend at a compound rate of 16% and repurchased 38% of its equity.