Evraz’s earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $1.90 billion in January-June 2018, compared with $1.15 billion over the corresponding period in 2017. This boosted the company’s Ebitda margin to 30.0% from 22.6%.
The earnings rise was supported by higher steel product prices, lower expenses in US dollar terms because of the weakening rouble, and the effects on operational efficiency of cost-cutting initiatives, the company said.
Evraz produces railway products, construction materials and steel pipe, as well as iron ore and coal steelmaking raw materials, and a range of vanadium products. It has operations across Russia and North America, and in Europe.
Earnings from the steel business added $1.26 billion to the Ebitda total, which was more than double the total for the first half of...