Ostrava steelmaker posts profit of 3.2 billion crowns in 2017


The Czech Republic’s biggest steelmaker, ArcelorMittal Ostrava, has posted a profit of 3.2 billion crowns in 2017. It is an increase by 1.9 billion crowns on the previous year.

The results were mostly affected by higher financial yields due to the sale of share in daughter companies, the company’s spokeswoman Barbora Černá Dvořáková told the Czech News Agency on Monday.

ArcelorMittal, the world’s largest steelmaker, is looking to sell its Czech unit and some other assets by the end of the year in order to win EU antitrust clearance to acquire a troubled Italian peer Ilva.