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Evraz Announces Financial Results for 2009

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Evraz Announces Financial Results for 2009

31 March 2010 – Evraz Group S.A. (LSE: EVR) today announces its audited financial results for the year ended 31 December 2009.

2009 Highlights:

Financials:

  • Consolidated revenue US$9,772 million
  • Consolidated adjusted EBITDA US$1,237 million
  • Net loss US$1,261 million (equivalent to net loss of US$207 million before change in accounting policy)
  • Operating cash flow US$1,700 million
  • Total debt US$7,923 million (reduced by US$2,063 million from US$9,986 million as of 31 December 2008)

Steel segment:

  • Crude steel production 15.3 million tonnes (17.7 million tonnes in 2008)
  • Total steel sales volumes 14.3 million tonnes (17.0 million tonnes in 2008)
  • Consolidated steel revenue US$8,978 million (US$17,925 million in 2008)
  • 1H2009: closed inefficient capacity, destocked and reduced costs and CAPEX
  • 2H2009: increased capacity utilisations following recovery in demand

Mining segment:

  • Iron ore production 17.4 million tonnes (18.9 million tonnes in 2008)
  • Coking coal production 10.3 million tonnes (9.1 million tonnes in 2008)
  • Thermal coal production 4.1 million tonnes (4.9 million tonnes in 2008)
  • Consolidated mining revenue US$1,456 million (US$3,634 million in 2008)
  • 1H2009: reduced costs and minimal mine development
  • 2H2009: increased mine development following recovery in demand

Vanadium segment:

  • Primary vanadium production 22,200 tonnes (26,400 tonnes in 2008)
  • Vanadium product sales volume 18,400 tonnes (26,400 tonnes in 2008)
  • Vanadium segment revenues US$363 million (US$1,206 million in 2008)
  • 1H2009: destocked and reduced operating costs
  • 2H2009: increased output following recovery in demand

Corporate developments:

  • Completion of acquisition of Vanady-Tula, a vanadium slag processing facility in Russia
  • Acquisition of Chemzone, the Carbofer steel distribution network in Russia
  • Transfer of 26% stake in Mapochs Mine to local partners in South Africa as part of the Black Economic Empowerment (BEE) government programme
  • Successfully tendered to develop the Mezhegey coking coal deposit in March 2010

Please download the full version of the press release here.

You may find Audited Consolidated Financial Statements in Investor Relations section.