Russian steelmaker Severstal has announced its financial and operational results for the first half of the current year.
In the first half, the company registered a net profit of RUB 105.27 billion ($1.09 billion), decreasing by 10.5 percent compared to the same half last year, while its sales revenues decreased by 9.9 percent year on year to RUB 339.43 billion ($2.53 billion), due to lower average selling prices.
Severstal’s EBITDA moved down by 11.5 percent year on year to RUB 118.46 billion ($1.23 billion in the first half this year, while its EBITDA margin in the given period was 35 percent, compared to 36 percent in the first half last year.
In the first half this year, Severstal’s crude steel output totaled 5.65 million mt, up by 6.1 percent year on year. In the given period, the company’s steel sales totaled 5.46 million mt, up by 9.4 percent, while its sales of semi-finished products totaled 580,000 mt, down by 9.9 percent, both year on year.