Earnings release
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● STELCO NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Stelco Holdings Inc. first quarter highlights include : ● The Steel Company of Canada Stelco Holdings Inc. Reports Triple - Digit Improvement in Adjusted EBITDA and Net Income in First Quarter 2021 Revenue of $ 665 million for the quarter , up 57 % from Q4 2020 Operating income of $ 167 million for the quarter , up 328 % from Q4 2020 Adjusted Net Income * of $ 155 million and Adjusted Net Income * per share of $ 1.75 , up 243 % from Q4 2020 ● • Shipments * of 675,000 tons for the quarter , up 38 % from Q4 2020 Adjusted EBITDA * of $ 185 million for the quarter , up 208 % from Q4 2020 Declared quarterly dividend of $ 0.10 per share payable on May 19 , 2021 HAMILTON , ONTARIO , May 4 , 2021 - Stelco Holdings Inc. ( " Stelco Holdings " or the " Company " ) , ( TSX : STLC ) , a low cost , integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America , today announced strong financial results of the Company for the three months ended March 31 , 2021. Stelco Holdings is the 100 % owner of Stelco Inc. ( " Stelco " ) , the operating company . Selected Financial Information : ( in millions Canadian dollars , except volume , per share and nt figures ) Revenue ( $ ) Operating income ( $ ) Net income ( loss ) ( $ ) Adjusted net income ( loss ) ( $ ) * Net income ( loss ) per common share ( diluted ) ( $ ) Adjusted net income ( loss ) per common share ( diluted ) ( $ ) * Average selling price per nt ( $ ) * Shipping volume ( in thousands of nt ) * Adjusted EBITDA ( $ ) * * Adjusted EBITDA per nt ( $ ) Q1 2021 665 167 119 155 1 1.34 1.75 959 675 185 274 Q1 2020 Change Q4 2020 Change 445 49 % 424 57 % 7 2286 % 39 328 % ( 24 ) ( 47 ) NM 244 % ( 26 ) 45 ( 0.27 ) ( 0.29 ) 705 621 20 32 NM NM NM NM 36 % 9 % 825 % 756 % ( 0.53 ) 0.51 728 489 60 123 NM 243 % 32 % 38 % 208 % 123 % * See " Non - IFRS measures " for a description of certain Non - IFRS measures used in this Press Release and " Non - IFRS Measures Reconciliation " below . NM = Not Meaningful