Russian mining and steel producing company Evraz Group has announced its financial results for the first quarter of 2012.
In the given quarter, the company's sales revenues did not show any changes compared to the first quarter of the previous year and stayed at $3.89 billion, due to flat prices and sales volumes. Similarly, the financial performance of the first quarter was mostly in line with the fourth quarter of 2011. The group's total debt as of March 31, 2012 amounted to $7.3 billion.
In the first quarter, Evraz's capital expenditure amounted to $310 million, including major projects such as introduction of pulverized coal injection (PCI) technology at the Russian steel mills, reconstruction of the rail mill at EVRAZ ZSMK, greenfield construction of two rolling mills in the CIS, and development of the Yerunakovskaya VIII coking coal mine. All these projects remaining on schedule and within budget.