EVRAZ plc increased 6-month net profit by 49.1% to $513 million

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AK&M 06 August 2020 19:13

Net profit of EVRAZ plc for the first half of 2020 increased by 49.1% year-on-year to $513 million from $344 million a year earlier, the company reported.

Consolidated revenue decreased by 18.8% to $4.983 billion from $6.14 billion.

Consolidated EBITDA was $1.073 billion decreasing by 27.6% from $1.482 billion a year earlier.

Total debt increased by $229 million to $5.097 billion, net debt grew by $288 million to $3.733 billion.

Evraz Group S.A. is one of the largest vertically-integrated metallurgical and mining companies. It combines three leading steel-making enterprises (Nizhny Tagil, West Siberian and Novokuznetsk iron-and-steel works) along with Evraz Palini e Bertoli (Italy), Evraz Vítkovice Steel (the Czech Republic), Evraz Inc. NA (production assets in the USA and Canada), metallurgic and ore assets in Ukraine, Highveld Steel and Vanadium Corporation (RSA).

IFRS net profit of Evraz Plc for 2019 decreased to $365 million from $2.47 billion in 2018. Consolidated EBITDA amounted to $2.601 billion decreasing by 31.1% from $3.777 billion in 2018, EBITDA margin dropped to 21.8% (29.4% in 2018).