NLMK's Q2 earnings up 52% on higher prices, increased sales

Earnings at Novolipetsk Steel (NLMK), Russia’s largest steelmaker, soared by 52% year-on-year in the second quarter of 2018 on better prices and increased sales volumes, the company said in a financial report on Tuesday July 31.

In April-June, NLMK’s earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $915 million, against $603 million in the corresponding period last year, and $812 million in January-March 2018. In Russia, NLMK operates a flat steel complex in Lipetsk, as well as two long steel mills – Nizhniye Sergi in the Sverdlovsk region and another in the Kaluga region. The company also runs flat steel re-rolling facilities in Denmark, Belgium and the United States. The largest share of Ebitda was generated by the Russian flat steel division, where earnings were $612 million in second quarter, increasing...

Published

Marina Shulga

July 31, 2018

20:12 GMT

Dnepr