The new target is aimed at increasing its core profits (EBITDA- earnings before income, tax, depreciation and amortisation) $150 per tonne. The EBITDA per tonne had declined to $85 per tonne last year. Company's CFO Aditya Mittal said in a presentation that "If our markets expand by 15 per cent i.e (company's) global shipments (get) back to above 95 million tonnes, then we believe $150 per tonne EBITDA is achievable." Talking about the cost cutting programme, he said that "through new management gains programs, we are targeting to more than offset the effect of inflation on fixed costs, minimise the effect of higher activity (production) on fixed costs and achieve further variable cost efficiencies." Noting that "cost cutting is in our DNA", Mittal said that a similar programme of achieving $4.8 billion of "management gains" since 2008 has already been achieved. Talking about the outlook, the company said that it expects global apparent steel consumption to increase by 33.5 per cent this year.