Mechel records net loss of $734 million in 2013

Russian mining and steel group Mechel has announced its financial results for 2013. In the given period, Mechel saw an adjusted net loss of $734 million compared to a net profit of $305 million in 2012, while its sales revenues decreased by 19 percent year on year to $8.576 billion. The company's operating loss increased by 25 percent year on year to $529 million.
 
The revenue of Mechel's mining segment from external customers in 2013 totaled $2.784 billion, down 18 percent, while its steel segment revenue from external customers in the same period amounted to $4.956 billion, down 23 percent, both compared to 2012.