Russian mining and steel producing company Evraz Group has announced its financial results for the full year of 2015.
In 2015, Evraz registered a consolidated revenue of $8.76 billion, decreasing by 32.9 percent compared to the previous year, primarily as a result of falling prices and depressed demand in the given year. The consolidated EBITDA of Evraz for the full year was $1.44 billion, down 38.9 percent year on year, due to weaker commodity prices which were partly offset by lower expenses in US dollar terms due to the depreciation of the ruble. In 2015, the group registered a net loss of $719 million, compared to a net loss of $1.278 billion in 2014.
Evraz stated that in 2016 it will continue the expansion of its product portfolio in the construction, railway and mining segments in Russia and the CIS, will increase the export presence of its rails, beams and rebar, and work on the development of engineering services for its clients. In the current year, the company will also work on large diameter (LD) pipe projects, focus on sales sustainability at its rail mill and increase plate sales to third parties.