First Quarter of 2011 Trading Update
17 May 2011 – EVRAZ Group S.A. (LSE: EVR) (“EVRAZ”) today issued its first quarter of 2011 trading update.
- Revenue for the three-month period ended 31 March 2011 was US$3,894 million
- Adjusted EBITDA  was US$740 million  with adjusted EBITDA margin of 19%
- Interest expense was US$191 million
- Total debt as of 31 March 2011 amounted to US$7,809 million, including US$713 million of short-term loans and current portion of long-term debt
- Cash and cash equivalents at the end of the period stood at US$629 million
- Capital expenditures amounted to US$200 million
- Total steel products sales in the three-month period ended 31 March 2011 amounted to 3.9 million tonnes
- Iron ore sales volumes including intersegment shipments totalled 5.2 million tonnes
- Coal sales including intersegment shipments were 2.1 million tonnes, including 0.6 million tonnes of raw coking coal, 0.3 million tonnes of steam coal, 1.2 million tonnes of coking coal concentrate and 0.1 million tonnes of steam concentrate
 Profit from operations before depreciation, depletion and amortisation, impairment of assets, loss (gain) on disposal of property, plant & equipment and foreign exchange loss (gain).
 This number includes US$16 million penalties related to Ukrainian operations in 2008. Excluding this item EBITDA would have been US$756 million
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