印度塔塔钢铁财年第三季度盈利低于预估

印度塔塔钢铁于周二公布的财年第三季度盈利状况略低于期望值，这与其主要市场欧洲产生的高成本不无相关。
继07年以130亿美金收购英国的CORUS后，欧洲成为其最大的市场和生产中心。但在过去6年里，欧洲的整体经济形势并不乐观。再加上钢厂需要从外部采购铁矿石和焦煤以及高成本的能源开销，都在影响盈利状况。
钢厂10-12月季度净利达50亿卢比（8000万美元），去年同期净亏78.9亿卢比。其净销售额上涨14%至3641亿卢比。分析师之前预估其盈利将达75.1亿卢比。
塔塔钢铁是欧洲第二大钢厂，欧洲占额超过其2900万吨总产能的60%。13年财年第三季度其欧洲发货量增长6%至319万吨；其营业利润也有所增长，但低于预期。
当地协会组织预计欧洲14年的表观需求量将增长3%。但德国的钢铁协会称预期的经济复苏可能因激烈的竞争和上升的原材料价格而不能实现。
塔塔钢铁近期在印西扩产的Jamshedpur厂房将年产能提到了1000万吨。季度报告称其印度市场当季的盈利同比涨幅达45%，至151.9亿卢比。
公司对印度市场的长期增长态势较为乐观，并计划于下一个财年末实现其Odisha州西部600万吨产能工厂的第一阶段投产。由于其自营铁矿石项目，其印度的业务往往盈利点更大。
 

India's Tata Steel Ltd posted a smaller-than-expected third quarter profit on Tuesday partly due to high costs in its main European market which squeezed margins.
Europe is Tata Steel's biggest market and production centre, following its $13 billion acquisition of Britain's Corus in 2007 that gave it a foothold in the region. But the company has struggled to reap benefits from the deal because of Europe's weak economic conditions over the past six years.
Tata Steel Europe needs to import both iron ore and coking coal from outside and that plus continued high energy costs have hurt margins.
The steelmaker posted a net profit of 5 billion rupees ($80 million) for the December-ending quarter, compared to a net loss of 7.89 billion rupees a year ago. Net sales rose 14 percent to 364.1 billion rupees.
Analysts had expected a profit of 7.51 billion rupees on revenue of 336.52 billion rupees, according to data from Thomson Reuters StarMine.
Karl-Ulrich Köhler, MD & CEO of Tata Steel in Europe, said the company's focus on cost and cash flow continued, which had supported the year-on-year improvement in core profit, despite lower margins.
"With European economic indicators improving, our efforts will better enable us to benefit from any growth in European steel demand, which remains at historically low levels," Kohler said in a statement.
The world's largest steelmaker ArcelorMittal last week forecast higher profits for this year and said steel demand in Europe was rising beyond just a restocking effect.
Tata is the second-largest steelmaker in Europe, which accounts for more than 60 percent of its total annual capacity of 29 million tonnes.
The company said European delivery volumes rose 6 percent from a year earlier to 3.19 million tonnes for the quarter and operating profit also improved, but the pace of improvement been slower than expected.
The European Union's apparent steel demand is expected to rise by 3 percent in 2014, regional steel association Eurofer has said. But Germany's steel association warned on Tuesday the expected recovery could get derailed by fierce competition and rising raw material and energy prices.
INDIA GROWTH HOLDS
Tata Steel, which recently expanded capacity at its Jamshedpur plant in eastern India to 10 million tonnes a year, said quarterly profit at the Indian business jumped 45 percent from a year ago to 15.19 billion rupees.
The company is bullish about the long-term growth prospects in the country, T.V. Narendran, its managing director for India and South East Asia, said in December. Tata Steel plans to commission the first phase of its 6 million plant in eastern Odisha state by the end of the next fiscal year.
Its Indian operations have traditionally been more profitable as it operates its own iron ore mines, the main raw material in steelmaking.
Ahead of the results, shares in Tata Steel closed 1.9 percent higher at 389.75 rupees in a Mumbai market that ended up 0.1 percent.

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