Russian mining and steel group Mechel has announced its consolidated financial results for the first half of the current year. In the first half, Mechel saw a net loss of $648 million compared to a net loss of $2.120 billion in the first half of 2013. In the first half this year, Mechel's sales revenues decreased by 26 percent year on year to $3.444 billion. The company's operating income decreased by 88 percent year on year to $17 million.
The revenue of Mechel's mining segment from external customers in the first half of the current year totaled $1.122 billion, down 23 percent, while its steel segment's revenue from external customers in the same period amounted to $1.956 billion, down 29 percent, both compared to the corresponding period of 2013.