Mechel, one of the leading Russian mining and steel groups, has announced its financial results for the first half of 2007.
According to the company's release, in H1 2007 Mechel's revenue increased by 55 percent, its net operating income by 252.8 percent, its net income by 169.4 percent, while its EBITDA was up by 136 percent year on year. The respective figures in US$ were 2.87 billion, 738.99 million, 489.46 million and 813.69 million. The company's EBITDA margin increased from 17.9 percent in H1 2006 to 27.2 percent in H1 2007.
The company commented that the strong results were achieved due to Mechel's operational process and the ongoing favorable market conditions.