NLMK, the LSE]listed leading steel producer, today announces its consolidated US GAAP results for Q2 and H1 2011.
- Full version of the press release (PDF)
- Presentation (PDF)
- Financial Statement (PDF)
NLMK delivered a significantly improved financial and operational performance in Q2 2011, confirming its status as one of the most efficient global steelmakers. Sales revenue rose by 26% to $2.98 billion on the back of larger sales and improved pricing environment. Positive market sentiment and moderate cost increase pushed up NLMK Groupfs EBITDA by 43% to $837 million. The EBITDA margin improved 3 p.p. to 28%. Net income grew 50% to $587 million.
Q3 2011 Outlook
Q3 sales volumes will stay largely flat quarter-on-quarter. At the same time, the share of finished value added products will increase substantially following the consolidation of foreign assets. According to our preliminary estimates, Q3 revenues will grow 10-15%. The EBITDA margin is expected to be in the 20-25% range.+