In H1, Evraz made the net profit in the amount of $1 million

In the first six months of 2014, the net profit of Evraz under IAS made up $1 million against the loss in the amount of $ 146 million in the previous year, the company reports. In the reporting period, the consolidated proceeds increased by 7% to $6 805 million. The operating profit increased 2 times to $ 297 million.

Commenting on the results of the Evraz’s activity, the company’s president, Alexander Frolov noted: "By results of the first half of 2014, EBITDA amounted to $1 080 billion as compared with $925 million in the same period of 2013. The growth of EBITDA by 17% is mainly connected with measures on optimization of the portfolio of the company’s assets and improvement of the economic efficiency. Strong free cash flow in the first half of the year - $ 444 million - allowed the company to reduce its net debt to $6 095 billion (as of June the 30th of 2014). The ratio of the net debt to EBITDA ratio decreased from 3.6 to 3.1.

Steel production

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer