The segment recorded an operating loss of €366m for Q4 2013. Operating performance in the fourth quarter was impacted by net restructuring charges of €236m, primarily as a result of the industrial and social plan in Liege and review of Florange primary production.
Q4 2013 losses compare with an operating loss of €131m in Q3 2013.
This segment’s crude steel production remained flat, compared to Q3 2013, at 7.4 million tonnes.
Steel shipments in Q4 2013 were 6.7 million tonnes, an increase of 1.6% as compared to the previous quarter, due to a mild pick- up in demand following the seasonally weak third quarter.
Sales in the Flat Carbon Europe segment also increased by 0.8% to €4.83bn, compared with €4.78bn in the third quarter. This was primarily due to higher steel shipment volumes.
Ebitda for the quarter increased by 11.6% to €163m, compared with €146m in the third quarter. This resulted mainly from a positive volume effect and excellent operational performance across FCE mills.
Commenting, Geert Van Poelvoorde, CEO Flat Carbon Europe, said:
“We are seeing the positive effects of asset optimisation and an improved operational performance across FCE mills in 2013 results. With a recovery in underlying steel demand and mild restocking, we expect to see European steel demand rise by around 2% in 2014.”