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Mechel reduced output.

In IQ 2014 Mechel reduced steel output 20.69% to 1.031mln ton from 1.3mln ton prior year, the company informed.

The coal extraction moved down 13.1% to 5.565mln ton from 6.406mln ton; pig iron - 3.81% to 935ths ton from 972ths ton.

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 9-month 2013 net losses (US GAAP) increased 4.09 fold to $2.247bn from $550mln prior year; revenues declined 21.76% to $7.588bn from $9.239bn; operating losses gained $393mln vs. $258mln in profit; corrected EBITDA dropped 2.21 fold to $608mln from $1.346bn; EBITDA margin coming to 9.09% from 16.38.

The 2013-net losses reached 27.803bn rub. against 19.181bn rub. in profit prior year; revenues plunged 6.86 fold to 3.748bn rub. from 25.703bn rub.; profit from sales - 9.28 fold to 2.637bn rub. from 24.478bn rub.; pretax losses coming to 27.908bn rub. vs. 17.99bn rub. in profit.

"AK&M", 15.05.2014


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