News

27 March 2015

FY2014 and Q4 NLMK Group Consolidated Financial Results under US GAAP

NLMK Group is pleased to announce FY2014 and Q4 consolidated financial results under US GAAP

FY2014 highlights:
  • Group’s steelmaking capacities were running at 96%
  • Steel output increased to a record 15.9 million tonnes, driven by higher output at the Lipetsk site and increased capacity utilization at NLMK Kaluga
  • Sales increased by 2% year-on-year to 15.1 million tonnes
  • 2014 revenue totaled $10,396 million (-5% year-on-year)
  • EBITDA grew by 58% to $2,383 million
  • EBITDA margin increased to 23% (from 14% in 2013)
  • Investment was down by 26% to $560 million
  • Free cash flow increased by 174% to $1,155 million on the back of profitability growth and lower investment • Net debt reduced by 41% year-on-year to $1,590 million
  • Net debt/EBITDA was 0.67x (1.8x at the end of 2013)
  • Net income increased by 4.5 times year-on-year to $845 million
Q4 2014 highlights:
  • Steelmaking capacities were running at 98%
  • Steel output totalled 4.1 million tonnes (-1% quarter-on-quarter)
  • Sales increased by 7% quarter-on-quarter to 3.8 million tonnes
  • EBITDA was $627 million (-9% quarter-on-quarter and +53% year-on-year)
  • EBITDA margin was 27% (flat quarter-on-quarter; +11 p.p. year-on-year), including 30% at the Steel Segment
Outlook
In Q1 2015, we expect stable operational and financial performance compared to Q4 2014.