The Russian steel and iron ore producer Evraz Group has issued the financial results of its main Russian subsidiaries for the second quarter of 2007 under Russian Accounting Standards (RAS).
Accordingly, during the given period Evraz's Nizhny Tagil Iron and Steel Plant (NTMK) registered a 39 percent increase in its revenue, a 60 percent rise in its gross profit, a 56 percent climb in its operating profit and a 71 percent increase in its net profit. The respective figures in Rubles were 26.08 billion ($1.2 billion), 11.72 billion ($456.46 million), 10.17 billion ($396.2 million), and 7.5 billion ($229.04 million).
In the second quarter of 2007, West Siberian Iron and Steel Plant (ZapSib) saw a 24 percent increase in its revenue to Ruble 22.77 billion ($886.96 million), a 52 percent increase in its gross profit to Ruble 8.98 billion ($379.46 million), a 51 percent increase in its operating profit to Ruble 7.78 billion ($302.97 million), and a 68 percent increase in its net profit to Ruble 5.76 billion ($124.3 million) - all compared to the second quarter of 2006.
Evraz's iron ore affiliate KGOK saw a 36 percent increase in its revenue, a 60 percent rise in its gross profit, a 58 percent increase in its operating profit and a 95 percent climb in its net profit year on year in the second quarter of 2007. The respective figures in billions of Rubles were 5.13 ($119.75 million), 3.38 ($131.6 million), 3.06 ($84.1 million), and 2.16 ($84.16 million).
During the period in question, VGOK's revenue totaled Ruble 1.78 billion ($69.01million) - up 43 percent, its gross profit amounted to Ruble 737 million ($30.09 million) - up 72 percent, its operating profit totaled Ruble 606 million ($23.59 million) - up 82 percent, and its net profit amounted to Ruble 360 million ($14.01 million) - up 61 percent, all compared to the corresponding period of 2006.