Brazilian flats steelmaker Usiminas expects to generate a BRL 1.2 billion EBITDA by at least 2017, so it can honor its debts and investments, the comapny said this week.
Further, the company said that it plans to generate a BRL 2 billion EBITDA by 2019.
However, Usiminas explained those values represent “managing internal goals” and they do not constitute an official company forecast.
A media report said Usiminas’ EBITDA in 2015 was a BRL 2.3 billion loss, as opposed to the BRL 1.8 billion EBITDA reported in 2014.
In an interview with Brazilian newspaper Valor, Sergio Leite, Usiminas’ CEO, said the company will focus on cost reduction and at the same time increase sales.
As for the cost reduction front, the company expects to reconfigure its Cubatao mill, improve the performance of its Ipatinga mill, reduce management structure, and review suppliers’ contracts. It also plans to increase sales volumes and steel prices.