On August 28, OJSC Novolipetsk Steel became the sole owner of the common shares in CJSC Uralmetallurgstroy Industrial Association, Novolipetsk Steel informed.
It will be recalled that the acquisition of 250 thousand Uralmetallurgstroy Industrial Association shares was pursuant to a compensation agreement concluded with OJSC Maxi Group. Uralmetallurgstroy is estimated at RUB 10 million.
OJSC Novolipetsk Steel (Russian: Novolipetskiy Metallurgicheskiy Kombinat / NLMK, tax number: 4823006703) is one of three largest ferrous metallurgy enterprises of the Russian Federation. It produces over 9 million tonnes of steel a year and rolled steel of various grades and for various purposes. NLMK Group's key production assets are located in Russia, EU and the USA. The company's labor force is 60 thousand employees. NLMK produces a wide range of various metal products.
The principal owner of NLMK is Fletcher Holdings Ltd. (85.91% of shares) whose beneficiary is Chairman of the Board of Directors Vladimir Lisin. The companies whose beneficiaries are NLMK managers possess 2.8% of the shares. The free-float including the stock on Russian stock exchanges and GDRs on the LSE is 11.29%. The authorized capital of the enterprise is RUB 5,993,227,240 represented by the same number of shares at par value of 1 ruble.
US GAAP net profit of NLMK Group for H1 2013 dropped 6.56-fold to $68.448 million from $449.243 million the year before. Revenue decreased by 10.49% to $5.685 billion from $6.351 billion, operating profit 2.34-fold to $290.827 million from $680.016 million, pre-tax profit 3.12-fold to $195.466 million from $609.675 million, EBITDA by 30.16% to $718 million from $1.028 billion, EBITDA margin to 12.6% from 16.2%.
According to the information and retrieval system DataCapital, RAS net profit of NLMK for H1 2013 decreased by 42% to RUB 8.147 billion from RUB 14.047 billion the year before. Revenue decreased by 8.54% to RUB 112.531 billion from RUB 123.042 billion, sales profit 2.34-fold to RUB 2.896 billion from RUB 6.763 billion, pre-tax profit by 49.98% to RUB 7.985 billion from RUB 15.965 billion.