In its financial results according to US GAAP (Generally Accepted Accounting Principles) for Q2 of the current year, Russian steelmaker NLMK Group increased its net profit by 50 percent compared to the previous quarter, to $587 million. In Q2 this year, the company's sales revenues increased by 26 percent quarter on quarter reaching $2.98 billion on the back of larger sales and the improved pricing environment. At the same time, positive market sentiment and moderate cost increases pushed up EBIDTA by 43 percent compared to the first quarter. The EBIDTA margin improved by three percentage points to 28 percent.
NLMK Group expects sales to remain flat in Q3 compared to the previous quarter and its revenues to grow 10-15 percent.