OREANDA-NEWS. June 23, 2009.  Evraz Group S.A. (LSE: EVR) (“Evraz”) today issued its first quarter of 2009 trading update.

The information in this press release has been prepared in accordance with management accounting policies. Inter-company transactions have been eliminated in consolidation. This announcement does not contain sufficient information to constitute an interim financial report as defined in International Auditing Standards 34, “Interim Financial Reporting”. The following results may differ from financial statements prepared in accordance with International Financial Reporting Standards (“IFRS”). The numbers in this press release have not been audited or reviewed.
Evraz Group S.A. publishes consolidated financial statements prepared in accordance with IFRS for the six months ended June 30 and for the year ended December 31, in each year.

Highlights:

Revenue for the three-month period ended March 31, 2009 was USD 2,413 million
Adjusted EBITDA was USD 305 million with adjusted EBITDA margin of 12.6%
Interest expense was USD 187 million
Total debt as of March 31, 2009 amounted to approximately USD 9,041 million, including USD 3,775 million of short-term loans and current portion of long-term debt
Cash and cash equivalents at the end of the period stood at approximately USD 855 million
Capital expenditures amounted to USD 103 million
Total steel products sales in Q1 2009 amounted to 3.5 million tonnes
Iron ore sales volumes including intersegment shipments totalled 4.0 million tonnes
Coal sales including intersegment shipments were 3.8 million tonnes, including 1.1 million tonnes of raw coking coal, 1.4 million tonnes of steam coal and 0.9 million tonne of coking coal concentrate

Changes to the Company’s share capital:

Following the decision of the extraordinary general meeting of shareholders held on January 30, 2009, 9,755,347 new shares in Evraz were issued at a price of USD 22.50 per share in favour of the Company’s shareholders who opted for a partial 2008 scrip interim dividend. As of today, the Company’s issued share capital is comprised of 132,260,150 ordinary shares.