Russian steelmaker Severstal has announced that the distribution network of its Russian Steel Division in the January-September period this year increased its sales by five percent and more than doubled its EBITDA (earnings before interest, taxes, depreciation and amortization) to $19 million, year on year.
The distribution network increased its sales to the CIS and northern and eastern European markets to 858,000 mt during the first nine months of the year. Its revenues totaled $614 million, which is a 3.7 percent decrease compared to the same period of 2012, due to a softer pricing environment.