The 2012-net profit at Nord Gold increased 37.62% to gain $346.8mln from $252mln prior year, the company informed.
The revenues rose 1.27% to $1.197bn from $1.182bn rub.
The gold output lost 5% to come to 716.9ths ounce from 754ths ounce due to the problems in the production process in IH 2012. Still it is expected to be pushed up to 770-850ths ounce in 2013.
Nord Gold N.V. is a sub of Severstal. It was founded in 2010 through the restructuring of the gold production division of the Holding. It includes 8 mines in Russia, Kazakhstan, Guinea. The consolidated reserves are appraised to worth 23mln Troy ounce of gold and 103mln of Troy ounce of silver; provided reserves coming to 8.9mln ounce. In 2010 589ths Troy ounce were extracted (10.3% in growth). By 2013 Nord Gold intends to drive the output to 1mln Troy ounce.
The IH 2011 net profit (IAS) rose 3.3 fold to $130mln from $39.5mln prior year period; revenues - 80.7% to $543.4mln from $300.7mln; EBITDA came to $268.3mln which is 72.4% higher prior year period ($155.7mln). EBITDA margin came to 49.4% vs. 51.8% prior year. The capital expenses rocketed upward 86.4% to $106.6mln from $57.2mln; money flow being doubled to $174.3mln from $83.7mln.
"AK&M", 24.01.2013
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