Mechel’s 2011 net profits surge by 10.8%
Mechel, one of the major steel and coking coal producers in Russia reported that its US GAAP net profits in 2011 surged by 10.8% year on year to reach US$727.885 million.
In 2011, the company realized sales revenues of US$12.546 billion, rising by 28.7% and its operating profits soared by 19.5% to US$1.832 billion.
Meanwhile, Mechel posted EBITDA of US$2.393 billion for 2011, increasing by 18.7% year on year. At the same time, its adjusted EBITDA margin dropped by 19.07% from20.68% in a year ago.
News Date 14 May 2012 16:28:11 reported by Frio Chou