Severstal doubles Q1 earnings on higher prices, increased sales volumes

Russian steelmaker Severstal’s earnings jumped by 111.72% year-on-year in the first quarter of 2017, the company said on Thursday April 20.

The steelmaker reported total earnings before interest, taxes, depreciation and amortisation (Ebitda) of $578 million for the quarter, compared with $273 million in the same period in 2016. Ebitda margin was 32.70%, up from 24.90%. This was a result of higher revenues, amid favourable steel and commodities pricing as well as increased sales of steel products and iron...

Published

Alona Yunda

April 20, 2017

11:11 GMT

London