Mechel, one of the leading Russian mining and steel groups, has announced its financial results for the first nine months of 2007.
According to the company's release, in the Jan-Sept period Mechel's revenue increased by 47.9 percent, its net operating income by 117.7 percent, its net income by 89.7 percent, while its EBITDA was up by 80.2 percent year on year. The respective figures in US$ were 4.65 billion, 1.05 billion, 706.01 million and 1.2 billion. The company's EBITDA margin increased from 15.4 percent in the first nine months of 2006 to 22.6 percent in the first nine months of 2007.
Mechel commented that the company's strong results were supported by its steadily rising production output and the favorable environment across its customer markets.