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Evraz sees sharp rise in first-half Ebitda as markets pick up [UPDATE]

September 02, 2010 - 13:33 GMT Location: London

KEYWORDS: CIS , Russia , Evraz , H1 , Ebitda , results

Russian steelmaking group Evraz reported first half 2010 consolidated earnings of $1.15 billion before interest, tax, depreciation and amortisation (Ebitda), up 146.6% year-on-year

Revenues for the first six months of the year to June 30 rose 37.5% to $6.38 billion, while operating profit was $167 million, significantly improved from a loss of $1.05 billion in the same period last year, according to group information. Steel segment sales were behind the majority of revenue increases with a 35% increase to $5.8 billion, due to higher volumes and higher prices, Evraz said. Russian sales  contributed 33.2% of total revenues at $2.11 billion. By comparison, in the first...

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