One of the leading Russian vertically-integrated mining and steel groups,
Mechel, announced its financial results on October 11 for the first half of 2006.
According to the company's release, during the first six months of 2006
Mechel's revenue decreased by 7.3 percent, its net operating income by 42.2 percent, net income by 25.4 percent, while EBITDA dropped by 18.5 percent year on year. The respective figures in US$ were 1.9 billion, 209 million, 182 million and 345 million. The company's EBITDA margin for the period in question stands at 17.89 percent.