Russian mining and steel group Mechel has announced its consolidated financial results for the first quarter of the current year. In the first quarter, Mechel saw a net loss of $321 million compared to a net profit of $218 million in the first quarter of 2012. In the first quarter this year, Mechel's sales revenues decreased by 15.9 percent year on year to $2.481 billion. The company's operating income decreased by 80.8 percent year on year to $61 million.
The revenue of Mechel's mining segment from external customers in the first quarter of the current year totaled $769 million, down 18.6 percent, while its steel segment's revenue from external customers in the same period amounted to $1.430 billion, down 13.3 percent, both compared to the corresponding period of 2012.