Russian steelmaker Severstal has announced its financial results for the third quarter and the first nine months of the current year. Accordingly, in the third quarter Severstal registered a net loss of $130 million, compared to a net profit of $469 million recorded in the previous quarter. In the first nine months, the company's net profit amounted to $676 million, rising from the net profit of $16 million recorded in the corresponding period of the previous year.
In the third quarter of the current year, Severstal's sales revenues decreased by 7.9 percent quarter on quarter to $1.66 billion, while in the January-September period the company’s sales revenues amounted to $5 billion, down 22.1 percent year on year, as the impact of lower realized prices was only partially mitigated by moderate increases in sales volumes at Russian Steel and Resources.
Severstal's EBITDA in the third quarter decreased by 10.9 percent to $524 million compared to the second quarter of this year, while in the first nine months the company’s EBITDA increased by 5.3 percent year on year to $1.69 billion.