The Russian steelmaker Novolipetsk Steel (NLMK) has released its financial results for the first quarter of 2007 under US GAAP.
Accordingly, during the period in question NLMK's revenue increased by 61 percent to $1.75 billion, its gross profit increased by 87.5 percent to $817 million, its operating profit rose by 70.2 percent to $640 million; its EBITDA went up by 92.8 percent to $748 million, but its net profit decreased by 16.4 percent to $457 million. In addition, the company's EBITDA margin increased from 36 percent to 43 percent.