EVRAZ is a global steel and mining company and the leading producer of infrastructure steel products with low-cost production along the value chain

Global steel and mining company
  • Among the top 30 global steel producers
  • Key assets in Russia and North America
  • FTSE 100 constituent
  • Sales to more than 70 countries
The leading producer of infrastructure steel products
  • No. 1 in the Russian and American rail market
  • No. 1 in the Russian beam market
  • No. 1 in the Russian construction steel product market
  • No. 1 in the American LDP market
Low-cost production along the value chain
  • Located in the first quartile of the steel cash cost curve
  • 79% self-sufficient in terms of iron ore and 239% in terms of coal
  • The leader among metallurgical coal producers in Russia and among the top five global coal producers

Success factors

EVRAZ’s strategy is based on five key success factors, which are crucial in achieving our corporate vision

Health, safety and environment

Safe work s minimises the risks for employees and for the production process


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Human capital

Motivated employees achieve better results and generate more breakthrough ideas


Level of personnel engagement is in line with industry leaders

Customer focus

Responding to the evolving needs of our customers allows us to develop new products and solutions, thus creating additional value


Increase the share of value-added products

Asset development

Application of new technologies and cost efficiency enable the Company to be a leader


Maintain the pace of efficiency improvements at 3% of COGS per annum

EVRAZ’s business system

A culture of continuous improvement leads to long-term competitiveness


100% coverage with EVRAZ’s business system (EBS)

Business segments

EVRAZ has three business segments, which have their own areas of specialisation and specific competitive advantages

EVRAZ’s Steel segment uses locally sourced raw materials to produce steel products in the CIS, which it sells for domestic infrastructure and construction projects while taking a flexible approach to exports. The Group’s vanadium business is based on processing vanadium slag from steelmaking operations.

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2018 results

US$2,672 million EBITDA
10,853 kt Production of steel products
US$246/t Cash cost of semi-finished products

EVRAZ’s Coal segment provides raw materials for the Group’s steel mills, supplies coking coal to major domestic coke and steel producers, and exports its products to foreign customers.

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2018 results

US$1,218 million EBITDA
24,188 kt Production of raw coking coal
14,130 kt Production of coking coal concentrate
US$47/t Coal coking concentrate cash cost

The Steel, North America segment focuses on the premium markets in the Western US and Canada, offering high-value-added products, including infrastructure steel, rails, large-diameter pipes and oil country tubular goods (OCTG).

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2018 results

US$14 million EBITDA
2,141 kt Production of steel products

Key Priorities

A strong and competitive business model enables EVRAZ to set key priorities that are driven by market conditions and business fundamentals and to successfully accomplish them

Debt management and stable dividends

Debt management and stable dividends

  • Dividend payout according to stated dividend policy
  • Medium-term net debt level below US$4,000 million
  • Target average net debt/EBITDA at 2.0x throughout the cycle
Achievements in 2018
US$3,571 million Net debt
Dividends and share buybacks
US$ million 2018 2017 2016 2015
Dividends 1,556 430 0 0
Share buyback 0 0 0 336
Total 1,556 430 0 336
Yield 17% 9% 0 12%

Prudent CAPEX

Prudent CAPEX


The Group’s new investment projects are aimed at further developing its competitive advantages, while maintenance investments are focused on supporting the sustainability of EVRAZ operations. New investment opportunities will be focused on the development and diversification of the steel product portfolio in Russia and North America.

Achievements in 2018
US$527 million Annual CAPEX

Projects under analysis

Integrated flat casting and rolling facility at EVRAZ ZSMK.

2.6 mtpa of premium 1.2mm–25mm flat products instead of slabs and billets.

Total CAPEX US$490 million in term 2019–2022.

Projects under analysis

Long rail mill at EVRAZ Pueblo.

600 ktpa of 100-metre rails. Current mill shut down.

Total CAPEX US$480 million in term 2019–2022.

Projects under analysis

Rail and beam mill modernisation at EVRAZ NTMK.

230 ktpa volumes of beams and 50 ktpa of sheet piles, new types of rails instead of billets.

Total CAPEX US$215 million in term 2019–2021.

Projects under analysis

Continuous casting machine No. 5 at EVRAZ NTMK.

460 ktpa of cast pipe blanks for the domestic market instead of billets.

Total CAPEX US$120 million in term 2019–2021.

Projects on at the realisation implementation phase

Blast furnace No. 6 major overhaul at EVRAZ NTMK.

Reconstruction of 2.5 mtpa blast furnace No. 6. After the project, the blast furnace No. 5 will shut down.

Total CAPEX US$150 million in term 2019–2021.

Projects on at the realisation implementation phase

Tashtagol iron ore mine upgrade.

Increase Tashtagol mining volumes to 3.25 mtpa.

Total CAPEX US$108 million in term 2018–2019.

Realised projects in 2018

Construction of the blast furnace No. 7 at EVRAZ NTMK.

New 2.5 mtpa blast furnace No. 7 with better productivity and energy efficiency. Launched in Q1 2018.

Total CAPEX US$204 million in term 2016–2018.

Retention of low-cost position

Retention of low-cost position


Efficiency and cost-cutting remain EVRAZ primary focus. The Group is on pace to generate improvements with an annual EBITDA effect of 3% of the cost of goods sold

Achievements in 2018
US$273 million Total EBITDA effect from cost-cutting initiatives

Development of product portfolio and customer base

Development of product portfolio and customer base

  • Increase and diversify steel product sales in the Russian market
  • Improve large-diameter pipe and rail sales in North America
  • Expand production volumes of scarce grades of coking coal
Achievements in 2018
US$67 million Total EBITDA effect from customer focus initiatives

Value that we create

Corporate governance

EVRAZ’s experienced management team and corporate governance best practices provide the assurance that EVRAZ acts in the very best interest of its shareholders.

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An increasing focus on the development of value-added products, improvements in shipping terms and tailored client services provide additional value to our customers around the world.



Development programmes and industry-leading working conditions make EVRAZ one of the most attractive employers in the regions where it operates.


Local communities

EVRAZ sees that business sustainability is ultimately connected with the prosperity of the regions where we operate and the satisfaction of local communities, which we support through social and improvement programmes.


State bodies

EVRAZ contributes value to the government by providing construction and railway products for the development of infrastructure, and it is also one of the largest taxpayers and employers in Russia.

Suppliers and business partners

As a key buyer of auxiliary materials and services with above-board and transparent tendering processes, EVRAZ supports industrial’ growth and continual improvement.