Russia: Severstal profit up in 2018

In 2018 Severstal net profit grew 1.5-fold, to $2.051 billion.

Revenue increased by 9.3%, to $8.58 billion due to the favorable price situation and sales growth by 2%.

EBITDA went up by 21.9%, to $3.142 billion.

Capital investments increased by 16.4%, to $688 million. (Ukrainian metal)

Russia: Severstal expecting weak demand for steel in 2019

In 2019 the demand for Russian steel will be weak.

“Construction volumes are not large, so, we believe the market will remain on current levels”, Severstal deputy CFO Alexei Kulichenko said.

According to Severstal estimate made in November 2018, the growth of the local demand for steel in 2018 was 1.1%. (Ukrainian metal)

Russia: Severstal net profit up in 2018

In 2018 net profit of Severstal grew by 51.4% YoY, to $2.051 billion.

According to the group statement, its revenue increased by 9.3%, to $8.58 billion.

EBITDA was $3.142 billion, up by 21.9%. (Ukrainian metal)

Russia: Severstal output up in 2018

In 2018 Severstal increased steel output by 3%, to 12.04 million tons mostly due to the commissioning of the ladle furnace No. 2. Pig iron output remained unchanged at 9.15 million tons. Consolidated sales grew by 2%, to 11.18 million tons. Coking coal concentrate sales from Vorkutaugol increased by 2%, to 3.37 million tons. (Ukrainian…

Russia: Severstal buys Yakovlevsky GOK shares

Severstal has purchased 100% of Yakovlevsky Mining and Processing Works shares for 7.89 billion rubles. Their major part was received as part of the debt payment from Metal-group LLC. In July 2017 Severstal bought out the LLC debt to Gazprom. In 2018 Metal-group was declared bankrupt. Severstal will continue developing Yakovlevsky GOK. This year ore…