EVRAZ ANNOUNCES UNAUDITED INTERIM FINANCIAL RESULTS FOR H1 2013
EVRAZ plc (�EVRAZ� or “the Company”) (LSE: EVR) today announces its unaudited interim results for the six months ended 30� June 2013 (“the Period”).
H1 2013 HIGHLIGHTS
Commenting on the interim results in respect of 2013, Alexander Frolov, Chief Executive of EVRAZ, stated:
“While our sales volumes were broadly flat at 7.8 million tonnes in H1� 2013, the financial results inevitably reflect the weaker steel price environment, with revenues decreasing 3% vs. H1� 2012 to US$7,362� million and EBITDA declining to US$939� million.
During the reporting period we successfully delivered on three key investment projects: the commissioning of the new coking coal mine Yerunakovskaya VIII, the launch of the modernised rail mill at EVRAZ ZSMK and the introduction of PCI technology at EVRAZ NTMK. Each of these undertakings represents an important milestone in our strategy to develop our raw material base, enhance our product portfolio and preserve our low cost position in the global steelmaking industry. At the same time, in the face of challenging conditions for the global steel sector, we have revised and further adjusted our expansion plans in order to significantly increase the flexibility of future capital expenditure”.
Six months to 30� June |
� |
� |
� |
(US$ million) |
2013 |
2012 |
Change |
Consolidated revenue |
7,362 |
7,619 |
(3.4)% |
Consolidated EBITDA |
939 |
1,184 |
(20.7)% |
Net loss |
(122) |
(46) |
165.2% |
Loss per share, (US$) |
(0.07) |
(0.03) |
133.3% |
Net cash flows from operating activities |
628 |
1,089 |
(42.3)% |
CAPEX |
492 |
565 |
(12.9)% |
|
30� June 2013 |
31� December 2012 |
� |
Net debt |
7,043 |
6,376 |
10.5% |
Total assets |
18,821 |
17,805 |
5.7% |
�
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CoNFERENCE CALL DETAILS
A webcast/conference call to discuss the results hosted by Alexander Frolov, CEO, and Giacomo Baizini, CFO, will commence today, 29 August, at:
3 pm (London Time)
6 pm (Moscow Time)
10 am (New York Time)
To join the webcast please register on-line at � http://webeventservices.reg.meeting-stream.com/81111/
or dial
0 800 694 0257� � � � � � � � � � � � � � � � � � � � � � in the UK (toll-free)
8 10� 800 2097 2044� � � � � � � � � � � � � � � � in Russia (toll-free)
1 866 966 9439� � � � � � � � � � � � � � � � � � � � � � in the USA (toll-free)
+44 (0) 1452 555 566� � � � � � � � � � � � � International Dial-in
Conference ID 31843434
To avoid any technical inconveniences it is recommended that participants dial in 15 minutes before the event start time.
The playback will be available until 4 September 2013.
Participants requesting the playback should dial:
0 800 953 1533� � � � � � � � � � � � � � � � � � � � � � in the UK (toll-free)
1 866 247 4222� � � � � � � � � � � � � � � � � � � � � � in the US (toll-free)
+44 (0) 1452 55 00 00� � � � � � � � � � � � International Dial-in
and enter the Code 31843434 followed by the # sign.� .
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Evraz is a tungsten producing company based in Luxembourg. Its main exploration property is PINE CREEK MINE in USA. |