Russian integrated mining and steel group Mechel has announced its financial results for 2007.
According to the company's release, in 2007 the net revenue of the company increased by 52.0 percent year on year to $6.7 billion. Meanwhile, Mechel's operating income totaled $1.4 billion in 2007, up by 92.6 percent year on year.
Mechel's EBITDA margin rose to $1.7 billion, up 55.3 percent from the $1.1 billion recorded the previous year.
The company's net income in 2007 amounted to $913.1 million, indicating an increase of 51.4 percent year on year.
Commenting on the figures, Mechel CEO Igor Zyuzin commented that the company's strong results were supported by its strategy of developing its raw materials base and increasing its market share of high value added products. Mechel's strong performance was also due to synergistic acquisitions that supported its production capability and created a foundation for future growth.