Evraz Announces Preliminary Results For Year Ended December 31, 2007

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Evraz Announces Preliminary Results For Year Ended December 31, 2007

April 2, 2008– Evraz Group S.A. (LSE: EVR) today announces its preliminary audited results for the year ended 31 December 2007.

2007 Highlights:

  • 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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For further information:

Evraz Group
Corporate Affairs and Investor Relations
Irina Kibina
Tel: +7 495 232 1370