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