ru 
ru 
Menu

EVRAZ announces its audited results for the year ended 31 December 2016

Back to the news list

EVRAZ announces its audited results for the year ended 31 December 2016

EVRAZ plc (“EVRAZ” or “the Group”; LSE: EVR) today announces its audited financial results for the year ended 31 December 2016.

FY 2016 highlights

  • Strong free cash flow of US$659 million (FY2015: US$799 million)
  • Continued reduction in net debt: US$4.8 billion (FY2015: US$5.3 billion)
  • Cost saving of US$316 million due to ongoing productivity improvements and cost-cutting initiatives
  • Consolidated EBITDA of $1,542m, up 7.2% from $1,438m in FY2015, driving the EBITDA margin from 16.4% to 20.0% due to numerous improvement initiatives and more favourable market conditions
  • Net loss of US$188 million vs. US$719 million in FY2015 mostly due to impairment of assets (US$465 million)
  • Secure position as one of the lowest-cost producers of steel and raw materials in Russia:
    • Cash cost of slabs decreased to US$183/t from US$193/t in FY2015
    • Cash costs of washed coking coal of US$30/t (FY2015: US$31/t)
    • Cash costs of iron ore products (58% Fe content) of US$26/t (FY2015: US$30/t).