Revenue Severstal in the first quarter of 2013 increased by 7 percent

The management efforts of Severstas aimed at improving the financial indicators of the company were successful. So over the first quarter of 2013, revenue from the sale of group products compared to the last quarter of last year increased by 6.6 percent - to 3 billion 322 million dollars, and the EBITDA (profit before tax) increased by 21.1 percent and amounted to $ 425 million. This is stated in today's message Severstal.

The company managed to reach a positive indicator of net profit of $ 44, after a pure loss of $ 150 million in the fourth quarter of 2012, in the first three months of 2013.

The financial situation of the Severstal group improved largely due to the growth of world prices for iron ore raw materials, since there are still no growth in the steel and metal rolling markets. The locomotives of the formation of the profit of the Russian company were Severstal Resource, as well as the Severstal International and Severstal Russian Steel divisions.

Meanwhile, in an annual comparison, the situation does not look so rosy. Revenue is still 10 percent lower than in the same period last year, and net profit decreased by 90 percent.

“In a difficult period for the steel and mining industry, Severstal was able to improve key financial indicators compared to the previous quarter ... At the same time, we are aware that the economic situation in the world continues to remain difficult, and this leaves an imprint on our key markets. We expect that the results of the second quarter of 2013, in general, will be close to the indicators of the first quarter of 2013 ”was commented by the report by the General Director of Severstal OJSC Alexei Mordashov.