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Evraz Announces 2009 Interim Results

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Evraz Announces 2009 Interim Results

September 1, 2009 – Evraz Group S.A. (LSE: EVR) today announces its unaudited interim results for the six months ended 30 June 2009.

1H 2009 Highlights:

Financials:

  • Revenue US$4,639 million
  • Consolidated adjusted EBITDA US$468 million∗
  • Net loss US$999 million, negatively impacted by US$833 million due to change in accounting policies. Excluding this impact, it would have been US$166 million loss
  • Operating cash flow US$1,123 million
  • Total debt reduced by US$1,504 million to US$8,482 million

Steel:

  • Crude steel production fell by 28.8% year-on-year to 6.8 million tonnes
  • Total steel sales volumes decreased by 28.0% to 6.8 million tonnes
  • Restart of Blast Furnace No. 3 at Zapsib at the end of June

Vanadium:

  • Vanadium segment revenues decreased by 81.4% to US$138 million
  • Sales volumes of vanadium products fell 52.8% year-on-year to 7,448 tonnes in vanadium
    equivalent

Mining:

  • Iron ore self-coverage of 99%
  • Coking coal self-coverage of 133%

Corporate developments:

  • Sale of 49% interest in NS Group to TMK for US$508 million completed
  • Renouncement of the right to purchase licence to develop the Mezhegey coal deposit•
  • Transfer of 26% of the ordinary equity interest in Mapochs Mine (Proprietary) Limited to local partners in South Africa as part of the Black Economic Empowerment (BEE) government programme, valued at US$59.8 million

Please download the full version of the press release here.
You may find Unaudited Interim Condensed Consolidated Financial Statements in Investor Relations section.