Russian mining and steel producing company Evraz Group has announced its financial results for 2021.
In 2021, Evraz registered a consolidated sales revenue of $14.16 billion, rising by 45.2 percent compared with $9.75 billion in 2020. In the same period, the group registered a net profit of $3.11 billion, compared to a net profit of $858 million in the previous year.
The consolidated EBITDA of Evraz for the given year was $5.01 billion, compared to $2.21 billion in 2020. EBITDA margin rose to 35.4 percent in the full year, from 22.7 percent in 2020.
In the given period, Evraz’s capital expenditure increased to $920 million, up by 40.0 percent year on year, driven by higher development expenses.
According to Evraz, the steel industry was mostly driven by demand-side fluctuations in 2021. Steelmakers increased output in anticipation of more robust demand from the construction and manufacturing sectors. In 2021, the company announced the demerger of Raspadskaya, its coal business, a process currently expected to be completed in late March 2022.
Evraz stated that it continues to monitor the current geopolitical circumstances regarding the invasion of Ukraine by Russia, and will keep its customers updated regarding any material developments that can influence its business.