The Russian mining and steel producer Evraz Group has announced that in January-September this year it sold 11.4 million mt of steel products, 13 million mt of iron ore and 7.2 million mt of coal, posting $9.792 billion in revenues, with adjusted EBITDA amounting to $1.766 billion for the period in question.
"The positive impact of the recovery in crude steel production volumes in the fourth quarter of 2010 compared to the third quarter of the same year is expected to be offset by negative seasonal factors, namely the shift of product mix towards lower margin export products due to weaker demand from the Russian construction industry and an increase in certain cost items," said the company in its statement, adding that, consequently, it expects its Q4 EBITDA to be in line with is Q3 EBITDA.
As of September 30, 2010, Evraz's total debt amounted to $7.851 billion, including $1.373 billion of short-term loans and current portion of long-term debt.
In the first nine months of this year, Evraz's capital expenditure totaled $584 million.