News

5 August 2015

Q2 and H1 2015 NLMK Group Consolidated Financial Results under US GAAP


Q2 and H1 2015 NLMK Group Consolidated Financial Results under US GAAP
H1 2015 highlights
  • Sales increased to 7.97 m t (+4% yoy) due to growth in exports of semi-finished products
  • Revenue was $4,356 million (-20% yoy) due to lower steel prices
  • EBITDA increased to $1,115 million (+5% yoy)
  • Effect from operation efficiency programmes totaled $102 million
  • EBITDA margin expanded to 26% (+6 p.p. yoy)
  • Capex increased to $293 million (+4% yoy)
  • Free cash flow decreased to $537 million (-27% yoy)
  • Net debt dropped to $1,133 million (-46% yoy)
  • Net debt/EBITDA was 0.47х
  • Net income increased to $491 million (+48% yoy). 
Q2 2015 highlights
  • Group utilization rate was 94% (flat qoq and yoy)
  • Sales increased to 4.0 m t (+1% qoq)
  • Revenue decreased to $2,140 million (-3% qoq) driven by falling export prices
  • EBITDA totaled $476 million (-25% qoq)
  • EBITDA margin was 22% (-7 p.p qoq)
  • Free cash flow totaled $218 million (-32% qoq)
  • Net income decreased to $170 million (-47% qoq)
Outlook

In Q3 2015, we expect production and sales to grow. Financial results will be impacted by low spreads between raw materials and steel prices.

Contacts

Babichenko Sergey

Head of PR

+7 (495) 504 05 04

babichenko_sy@nlmk.com

Maria Simonova

Press Secretary

+7 (915) 322-62-25

simonova_mn@nlmk.com

All contacts