Russian mining and steel producing company Evraz Group has announced its unaudited interim results for the six months of the current year.
In the given period, Evraz registered a consolidated revenue of about $4.89 billion, decreasing by 28.1 percent compared to the same period last year. The consolidated EBITDA of Evraz for the first six months this year was $1.92 billion, down 14.6 percent year on year. In the given period, the group's net profit amounted to $19 million, compared to a net profit of $15 million in the same period of 2014. The company's net debt as of June 30 this year amounted to $5.68 billion, decreasing 2.3 percent from its net debt one year earlier.
Evraz stated that in the second half of this year its expects its results to continue to be affected by the weak steel and raw material markets and currency volatility. The company forecasts a moderate decline in demand for its steel products due to instability in the Russian market, driven by a decrease in investment activity, which will constrain performance in priority market segments.