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Russian Severstal’s Q4 net profits increase by 7.9% q-o-q

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Severstal, the largest steelmaker in Russia posted its IFRS net profits in last Q4 amounted to US$463 million, increasing by 7.9% from a quarter earlier.

In last Q4, the Russian steel giant realized revenues of US$3.727 billion, falling by 17.5%, reflecting sluggish market.

Meanwhile, Severstal posted EBITDA of US$767 million in last Q4, dropping by 24.7%.

Alexei Mordashov, the CEO of Severstal stated that the company remained its Q4 EBITDA margin at more than 20% in spite of weak steel demand and the uncertainty in the global markets.

In 2011, Severstal realized net profits of US$2.035 billion, in comparison of a net loss of US$575 million in a year earlier.
News Date 23 Apr 2012 15:47:30 reported by Frio Chou

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