Russian steelmaker Severstal has announced its financial and operational results for the first half of the current year.
The company has posted sales revenues of 364.21 million RUB ($4.66 million) for the first half of the current year, with a 10.9 percent decrease year on year, primarily due to a drop in average selling prices. Severstal’s EBITDA decreased by 37.8 percent year on year to 78.65 million RUB ($1 million) in the first half, while its EBITDA margin decreased by nine percentage points to 22.0 percent.
In the meantime, in the first six months, the company’s crude steel and pig iron outputs amounted to 5.34 million mt and 5.6 million mt, respectively, up by 2.2 percent and 17.4 percent year on year, driven by the repairs to blast furnace No. 5 last year, while iron ore sales decreased by 16.5 percent to 985,000 mt.
In addition, in the first half of the year the company’s steel sales amounted to 5.44 million mt, increasing by 5.6 percent year on year, while sales of semi-finished products amounted to 420,000 mt. Sales of high-value added steel increased by 2.7 percent year on year to 2.79 million mt.
