31 March 2011 - Evraz Group S.A. (LSE: EVR) (EVRAZ) today announces its audited financial results for the year ended 31 December 2010.
2010 Highlights:
Financials:
- Consolidated revenue US$13,394million (+37% vs. 2009)
- Consolidated adjusted EBITDA US$2,350million (+90%)
- Net profit US$532million (net loss US$292* million in 2009)
- Operating cash flow US$1,662million
- Total debt US$7,811million (vs. US$7,923million as of 31December 2009) of which short-term debt US$714million (vs. US$1,992million as of 31December 2009)
Steel segment:
- Crude steel production 16.3million tonnes (+7%)
- Total external steel sales volumes 15.5million tonnes (+9%)
- Steel segment revenue US$12,123million (+35%)
Mining segment:
- Iron ore production 19.8million tonnes (+6%)
- Raw coking coal production 7.5million tonnes (-27%)
- Steam coal production 3.8million tonnes (-8%)
- Mining segment revenue US$2,507million (+72%)
Vanadium segment:
- Primary vanadium (slag) production 20,969tonnes (+8%)
- External vanadium product sales volumes 19,776tonnes (+9%)
- Vanadium segment revenue US$566million (+56%)
Corporate developments:
- Successful tender for the licences to develop the Mezhegey coking coal deposit in March2010 and the Mezhegey Eastern coking coal deposit in October2010
- Launch of major rail mill modernisation projects
- Commencement of implementation of pulverised coal injection (PCI) technology at two Russian steel mills
- Approval for construction of Yuzhny Rolling Mill in the Rostov Region of Southern Russia and the Kostanay Rolling Mill in Kazakhstan, each with 450,000 tonnes of construction steel capacity
- Acquisition in December 2010 of INPROM, a Russian metal service company, to strengthen EVRAZ's distribution network
- Conversion in January 2011 of old order mining rights into new order mining rights for Mapochs Mine in South Africa
*Net income numbers do not correspond to the 2009 fnancial statements due to the changes in the accounting policies (Note 2 to Financial Statements)
Please see the attached press release Financial results EGSA 2010 for further details.
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For further information:
Media contact:
Oleg Kuzmin, VP Corporate Communications
+7 495 937 6871
media@evraz.com
