EVRAZ

Evraz annual railway shipments equal 45 million tonnes of raw materials and steel products.
By 2006 more than 1.5 billion tonnes of iron ore were extracted in Kachkanarsky Ore Mining and Processing Enterprise.
For 75 years KMK steel workers have produced the rails enough to turn round the Earth 23.5 times.

Annual Annual Interim Interim

US$m, unless otherwise shown, IFRS	2009	2008	2007	2006	2005
Income statement
Revenues	9,772	20,380	12,859	8,292	6,508
Cost of revenues	(8,756)	(13,463)	(7,976)	(5,163)	(4,172)
Gross profit	1,016	6,917	4,883	3,129	2,336
SG&A	(1,268)	(1,751)	(1,220)	(737)	(648)
EBITDA⁽¹⁾	1,237	6,206	4,305	2,642	1,859
EBITDA margin	13%	30%	33%	32%	29%
Profit from operations	(1,047)	3,632	3,468	2,298	1,582
Profit before tax	(1,600)	3,051	3,125	2,087	1,528
Net profit⁽²⁾	(1,251)	1,797	2,103	1,377	918
Earning per share/GDR⁽³⁾, $	(9.30) / (3.10)	14.55 / 4.85	17.62 / 5.87	11.66 / 3.87	8.14 / 2.71
Balance sheet
Total assets	23,424	19,451	18,637	8,510	6,754
Net debt⁽⁴⁾	7,226	9,031	6,404	1,728	1,693
Equity	10,284	4,672	5,950	4,066	2,708
Minority interests	324	245	406	169	179
Cashflow statement
Cashflow from operating activities	1,700	4,563	2,994	2,084	1,496
Cashflow used in investing activities	183	(3,736)	(5,650)	(1,569)	(1,753)
including Capex	(441)	(1,103)	(744)	(651)	(695)
Cashflow from/(used in) financing	(2,149)	(127)	2,112	(341)	607
Sales volume⁽⁵⁾, ‘000 tonnes	14,282	17,021	16,439	16,000	12,860

US$m, unless otherwise shown, IFRS	1H 2009	1H 2008	1H 2007	1H 2006	1H 2005
Income statement
Revenues	4,639	10,723	6,018	3,825	3,632
Cost of revenues	(4,297)	(6,616)	(3,724)	(2,517)	(2,251)
Gross profit	342	4,107	2,294	1,308	1,381
SG&A	(595)	(960)	(492)	(346)	(334)
EBITDA⁽¹⁾	468	3,706	2,050	1,096	1,119
EBITDA margin	10.1%	34.6%	34.1%	28.7%	30.8%
Profit from operations	(1,046)	3,056	1,745	934	1,005
Profit before tax	(1,260)	2,889	1,625	848	985
Net profit⁽²⁾	(999)	2,039	1,122	568	612
Earning per share/GDR⁽³⁾, $	(7.55)/ 2.52	16.12/ 5.37	9.52/ 3.17	4.86 / 1.62	5.65 / 1.88
Balance sheet
Total assets	23,115	24,234	14,446	7,432	5,504
Net debt⁽⁴⁾	7,783	9,031	4,743	1,833	736
Equity	9,884	7,233	5,073	3,445	2,857
Minority interests	309	374	119	217	299
Cashflow statement
Cashflow from operating activities	1,123	2,449	1,651	904	727
Cashflow used in investing activities	380	(3,166)	(3,636)	(1,036)	(657)
including Capex	(203)	(528)	(235)	(262)	(280)
Cashflow from/(used in) financing	(1,775)	1,304	1,525	(45)	316
Sales volume⁽⁵⁾, ‘000 tonnes	6,823	9,473	8,466	8,344	6,750

(1) Adjusted EBITDA represents profit from operations plus depreciation and amortisation, impairment of assets and loss (gain) on disposal of PP&E.
(2) Attributable to equity holders of the parent entity.
(3) 1 share represents 3 GDRs.
(4) Net Debt represents long-term loans, net of current portion, plus short-term loans and current portion of long term loans less cash and cash equivalents (excluding restricted deposits).
(5) Steel segment sales volume.

AnnualAnnual InterimInterim