Evraz Group
|
29 August 2008 г. | 13:35
Evraz Announces 2008 Interim Results
Evraz Announces 2008 Interim Results
Evraz Group S.A. today announces its unaudited interim results for the six months ended June 30, 2008.
1H 2008 Highlights:
Financials:
Revenue grew 78.2% to $10,726 mln due to strong pricing, acquisitions and improved sales mix.
Consolidated adjusted EBITDA was up 80.5% to $3,700 mln.
Net profit attributable to equity holders of Evraz Group S.A. grew 82.1% to $2,043 mln.
Outstanding operating cash flow of $2,347 mln, a 42.2% increase over the previous period, due to higher profit and continuing focus on working capital management.
Earnings per GDR increased by 75.4% to $5.56.
Steel:
Crude steel production grew by 11.9% year-on-year to 9.5 mln tn.
Total steel sales volumes increased by 10.9% to 9.4 mln tn.
Vanadium:
Revenues of vanadium segment increased by 212.2% to $740 mln.
Vanadium products sales increased 57.2% year-on-year to 15,800 tn in vanadium equivalent.
Mining:
Iron ore production grew by 21.8% to 11.3 mln tn with iron ore self-coverage of 93%.
Own coal production provides for over 100% of the Company’s steel making requirements.
Recently approved Yuzhkuzbassugol development programme until 2018 is another step in Yuzhkuzbassugol’s turnaround.
Corporate developments and acquisitions:
Acquisition of Claymont Steel for $420 mln completed in January
Acquisition of IPSCO Canada for $2,413 mln completed in June
Successful bond placements totaling $2.0 bln completed in April and May
|
Six months to June 30
($ mln) |
2008
|
2007
|
Change
|
|
Revenue
|
10,726
|
6,018
|
78.2%
|
|
Adjusted EBITDA
|
3,700
|
2,050
|
80.5%
|
|
Profit from operations
|
3,125
|
1,745
|
79.1%
|
|
Net Profit
|
2,043
|
1,122
|
82.1%
|
|
Earning per GDR, ($)
|
5.56
|
3.17
|
75.4%
|
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