Mechel reached agreement on the restructuring of some portion of the debts in the volume of 25.5bn rub. ($773.9mln) with Sberbank, the company informed.
The obligations are prolonged for 5 years from IH 2015. This agreement concerns the short term debts of the Company (coverage in Dec. 2014).
Mechel (TIN 7703370008) is one of the leading Russian companies. It involves 4 sectors: mining, metallurgic, ferroalloys and energetic. It includes producers of the coal, ore concentrate, nickel, steel, rolled products, heat and electric energy. Its products are sold on the Russian and foreign markets.
The IQ 2013 net losses (US GAAP) gained $321mln against $218mln in profit prior year; revenues declined 16.89% to $2.83bn from $3.405bn; operating profit - 5.2 fold to $61mln from $317mln; corrected EBITDA dropped 2.32 fold to $210mln from $487mln; EBITDA margin coming to 8.5% from 16.5%.
The 9-month 2013 net losses (RAS) gained 10.038bn rub. vs. 22.723bn rub. in profit prior year period; revenues dropped 7.88 fold to 3.182bn rub.
from 25.085mln rub.; profit from sales - 10.5 fold to 2.32bn rub. from 24.37bn rub.; pretax losses coming to 10.201mln rub. vs. 22.047mln rub. in profit prior year.