The Russian steel and iron ore producer Evraz Group has issued the financial results of its main Russian subsidiaries for the third quarter of 2007 under Russian Accounting Standards (RAS).
Accordingly, during the given period Evraz's Nizhny Tagil Iron and Steel Plant (NTMK) registered a 31 percent increase in its revenue, a 35 percent rise in its gross profit, a 25 percent climb in its operating profit and a 19 percent increase in its net profit. The respective figures in Rubles were 26.504 billion ($1.08 billion), 10.79 billion ($439.8 million), nine billion ($366.9 million), and 6.14 billion ($250.3 million).
In the third quarter of 2007, West Siberian Iron and Steel Plant (ZapSib) saw a one percent decrease in its revenue to Ruble 20.63 billion ($841 million), a nine percent increase in its gross profit to Ruble 8.29 billion ($338 million), a five percent increase in its operating profit to Ruble 7.07 billion ($288 million), and a two percent increase in its net profit to Ruble 5.14 billion ($209.5 million) - all compared to the third quarter of 2006.
Evraz's iron ore affiliate KGOK saw a 15 percent increase in its revenue, a 20 percent rise in its gross profit, a 17 percent increase in its operating profit and a 27 percent climb in its net profit year on year in the third quarter of 2007. The respective figures in billions of Rubles were 5.18 ($211.2 million), 3.33 ($136 million), 2.98 ($121.5 million), and 2.4 ($98.8 million).
During the period in question, VGOK's revenue totaled Ruble 1.87 billion ($76 million) - up 37 percent, its gross profit amounted to Ruble 693 million ($28.25 million) - up 26 percent, its operating profit totaled Ruble 563 million ($22.9 million) - up 30 percent, and its net profit amounted to Ruble 401 million ($16.3 million) - up 29 percent, all compared to the corresponding period of 2006.