NLMK, the LSE-listed leading steel producer, today announces its consolidated US GAAP results for Q3 and 9 months of 2012.
We expect Q4 steel output will be 3.7 million tonnes (-2%), and in 2012, steel production will grow by 25% to approximately 15 million tonnes. In view of the weak market conditions and the seasonal consumer slowdown, in Q4 steel prices hit bottom for 2012. Low production costs and a balanced sales mix allowed the Company to partially offset the adverse impact of the external factors on its financial performance. Nonetheless, we expect Q4 revenue to be down by 5% largely due to lower selling prices, and profit will further decrease.
In the beginning of Q1 2013, we anticipate a minor pick-up in demand in a number of regions, driven by restocking.
NLMK is pleased to invite the investment community to a conference call with the management of NLMK:
Friday, 09 November, 2012
08:00 (New York)
To join the conference call, please, register on-line:
International Call-in Number: +44 (0)20 7162 0025
US Call-in Number: +1 334 323 6201
Conference ID: 925211
*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 14 November 2012
International Replay Number: +44 (0) 20 7031 4064
US Replay Number: +1 954 334 0342
Replay Access Code: 925211
It is recommended that participants download presentation in advance on NLMK’s web-site www.nlmk.com