NLMK, the LSE‐listed leading steel producer, today announces its consolidated US GAAP results for Q2 and H1 2011.
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 Group’s 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.
NLMK is one of the world’s leading producers of steel, with 2010 revenue of $8.4 billion, output over 11.5 million tonnes. Key production facilities located in Russia, the EU and USA employ around 60,000 people.
The Company produces a wide range of steel products, including slabs and billets, hot‐rolled, thick plates, cold‐rolled, pre-painted, electrical steel, as well as other high value added steel products, and a wide range of long products, including rebar, wire‐rod and metalware. In 2010 NLMK delivered its products to customers from 70 countries.
NLMK shares are traded in Russia on MICEX and RTS, and GDRs – on the London Stock Exchange.
NLMK is pleased to invite the investment community to a conference call with the management:
Thursday, 25 August, 2011
09:00 (New York)
To join the conference call, please, register on-line (link):
International Call-in Number: +44 (0)20 7162 0025
US Call-in Number: +1 334 323 6201
Conference ID: 902189
*We recommend that participants register on-line to avoid waiting in a queue or to start dialing in 5-10 minutes prior to ensure a timely start to the conference call.
The conference call replay will be available through 1 September 2011
International Replay Number: +44 (0) 20 7031 4064
US Replay Number: +1 954 334 0342
Replay Access Code: