Evraz Announces Preliminary Results For Year Ended December 31, 2007April 2, 2008– Evraz Group S.A. (LSE: EVR) today announces its preliminary audited results for the year ended 31 December 2007.
- Revenue grew 54.5% to US$12,808 million from US$8,292 million in 2006 due to acquisitions, improved sales mix and growth in average prices of steel products.
- Consolidated adjusted EBITDA was up 61.0% to US$4,254 million from US$2,642 million in 2006.
- Net profit attributable to equity holders of Evraz Group S.A. grew 55.7% to US$2,144 million from US$1,377 million in 2006.
- Record operating cash flow of US$2,957 million, a 41.9% increase year-on-year, due to higher profit margins and continuing focus on working capital management.
- Earnings per GDR increased by 54.3% to US$6.05 from US$3.92 in 2006.
- Crude steel production grew by 1.9% year-on-year to 16.4 million tonnes.
- Total steel sales volumes increased by 3.2% to 16.4 million tonnes.
- Vanadium products sales increased 74.0% year-on-year to 22,100 tonnes of pure vanadium equivalent.
- Revenues attributable to sales of vanadium products soared by 162.6% to US$583 million.
- Iron ore production grew by 10.6% to 18.9 million tonnes with iron ore self-coverage of 87%.
- The acquisition of the remaining 50% of Yuzhkuzbassugol in June gave Evraz 100% ownership of the coal company, making Evraz fully self-sufficient in coal.
Corporate developments and acquisitions:
- Simplification of corporate structure resulting from buyout of minority stockholders at Group’s Russian subsidiaries.
- Acquisition of Oregon Steel Mills for US$2.3 billion completed in January
- Acquisition of 93.35% of ZapsibTETs for US$231 million in May
- Acquisition of control over Highveld Steel and Vanadium Corporation in April
- Acquisition of outstanding 50% in Yuzhkuzbassugol for US$871 million in June
Please download 2007 Consolidated Financial Statement from Investor Relations section.
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