Oskol Steel Works saw an improvement in its financials in Q107

Oskol Steel Works (OEMK), part of Metalloinvest Holding, saw a dramatic improvement in its financials in Q107. In particular, the company’s sales (in comparable values) jumped nearly 40% y-o-y to $377 mln. In addition, gross profit climbed nearly 50% to $114 mln as a result of lower COGS growth and EBIT was up 53% to $91 mln (see below). EBIT margin reached 24% compared to 21.9% in Q106.

The company’s net income hit a record high of $57 mln during this period and net margin amounted to 15%.