The Russian Evraz Group, a steel
production and mining business with operations mainly in
Russia, announced its unedited interim results on October 12 for the first half of 2006.
According to the company's release, during the period in question, Evraz's revenue rose by 5 percent, adjusted EBIDTA decreased by 2 percent, profit and net profit decreased by 6.7 percent each year on year. The respective figures in $US were 3.8 billion, 1.1 billion, 938 million and 571 million.
For the January-June 2006 period, Evraz recorded a consolidated steel sale increase of 23 percent to $8.3 million metric tons, due to a 23 percent growth of Russian
construction products sales and growing
slab production.
Evraz Group's CEO Valery Khoroshkovsky, commenting on the new figures, stated, ’Contributing to our high revenues in the first half of 2006 was the sales volumes increase from the successful business integration of the European steel mills acquisitions, coupled with strong organic growth in Russian deliveries for the group's capital investment program'.