Ukrainian steel companies reported their financial statements for the Q1 2011, which turned out to be much worse than expected.
Yenakievo Iron and Steel Works posted negative EBITDA of $45 million which increased 1.5 times YoY, net losses almost doubled to $52 million.
Mariupol Ilyich Iron and Steel Works’ net losses increased by a factor of 11.6 YoY to $62 million.
Azovstal’s net losses decreased twofold YoY to $31 million and negative EBITDA declined by 32 times YoY to $1.9 million. (Phoenix-Capital)