OREANDA-NEWS. April 22, 2010. Veles Capital released daily market review:

In 2009 Mechel reduced US GAAP profit by 15 times. Mechel Group reduced the net profit by the results of 2009 by 15 times to 73.7 mn USD. By the results of 4Q the net profit formed 413.5 mn USD. In 2009 sales totaled 5.75 bn USD (42% down), EBITDA – 998 mn USD (two times lower). Annual financial results include 494 mn USD of profit from re-estimating the liabilities on the contingent right of share cost (CVR) within the frames of Blue stone, imparts the message. The volume of capital investments for 2010 has been planned in the volume of 1.4 bn USD (2.3 times higher). Net debt as of the end of the year formed 5.6 bn USD), total debt – 6 bn USD.

Gazprom gave a discount on gas for Ukraine and approved the features of switching to the equal yield in gas prices for Russia. Russia and Ukraine signed additional agreements in gas sphere and prolongation of Black Sea fleet for 25 years. In particular, Russia will be giving a discount on gas till 2019 in the amount of 30%, not more than 100 USD per thousand cubic. More to that the discount will be given not for all gas to Ukraine, so in 2010 30 bn cubic meters of gas will be sold with discount, with planned supplies volume of 36.5 bn cubic meters, in 2011-2019 – 40 bn cubic meters. However for Gazprom not negative consequences of the given decisions is to come, so, Ukraine will be getting a discount on behalf of cancellation of 30% of gas export duty, which comes to the budget of Russia.