Cleveland-Cliffs predicts 2021 revenue of $17bln

摘要

Cleveland-Cliffs expects that its pro-forma annual revenue in 2021 will total $17 billion, from which it plans to invest in self-improvements, according to the iron and steelmaker's top executive. "We should expect to have at least 12% Ebitda [earnings before interest, taxes, depreciation and amortization] margin in this new company," chairman, president and chief executive officer Lourenco Goncalves said, referencing Cliffs' recent deal to acquire ArcelorMittal USA. "And 12% of $17 billion will give you $2 billion Ebitda every year."