In its financial results according to US GAAP (Generally Accepted Accounting Principles) for Q1 of the current year, Russian steelmaker NLMK Group increased its net profit by 198 percent compared to the same period last year, to $392 million. In Q1 this year, the company's sales revenues increased by 39 percent year on year and reached $2.359 billion on the back of improved market conditions. At the same time, tight cost control pushed up EBIDTA by 51 percent year on year. The EBIDTA margin improved by two percentage points to 25 percent.
NLMK Group expects sales to rise to 3 million mt in Q2 and its sales structure to improve with a higher share of high value-added products.