Severstal Q2 earnings up 24% on higher sales, strong steel prices

Earnings at Severstal, Russia’s major steelmaker, rose by 23.8% quarter-on-quarter in April-June 2018 amid higher sales volumes of raw materials and strong steel product prices, the company said on Thursday July 19.

Earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $874 million in the quarter, compared with $706 million in January-March.
The company’s revenue totaled $2.259 billion over the three months, up by 4% from $2.173 billion in the previous quarter.

In April-June, the company’s iron ore sales went up by 22% to 4.487 million tonnes, from 3.669 million tonnes in...

Published

Marina Shulga

July 19, 2018

14:22 GMT

Dnepr