OREANDA-NEWS. September 2, 2010. Evraz Group S.A. (LSE: EVR) today announces its unaudited interim results for the six months ended 30 June 2010.

1H 2010 Highlights:

Financials:
Consolidated revenue USD 6,379 million (+38% vs. 1H 2009)
Consolidated adjusted EBITDA USD 1,154 million (+147%)
Net loss USD 270 million. Without the effects of non-cash and one-off transactions there would have been a net profit of USD 284 million .
Operating cash flow USD 744 million
Total debt USD 7,873 million (vs. USD 7,923 million as of 31 December 2009)

Steel segment:
Crude steel production 8.3 million tonnes (+22%)
Total external steel sales volumes 7.7 million tonnes (+13%)
Steel segment revenue USD 5,796 million (+35%)

Mining segment:
Iron ore production 8.7 million tonnes (+6%)
Coking coal (raw coal and concentrate) production 6.8 million tonnes (-21%)
Steam coal production 3.1 million tonnes (+21%)
Mining segment revenue USD 1,120 million (+72%)

Vanadium segment:
Primary vanadium production 10,537 tonnes (+22%)
External vanadium product sales volumes 10,506 tonnes (+41%)
Vanadium segment revenue USD 290 million (+110%)

Corporate developments:
Successful tender for the licence to develop the Mezhegey coking coal deposit in March 2010
Launch of major rail mill modernisation projects
Commencement of implementation of pulverised coal injection (PCI) technology at two Russian steel mills
Sale of ZAO Koksovaya (owner of the licence for Tomusinskaya 5-6 coal deposit) to Raspadskaya for USD 40 million

Financial management:
RUB15 billion (approx. USD 500 million) raised via a Rouble bond issue in March 2010
USD 1,007 million short-term loan to VEB repaid in May 2010 using the proceeds from a 5-year USD 950 million Gazprombank loan
USD 404 million 4-year loan from Nordea Bank was utilised in July to replace short-term debt
AGM held on 17 May 2010 approved the decision not to pay dividends in respect of 2009

CAPEX:
CAPEX for 1H 2010 amounted to USD 397 million compared with USD 203 million for 1H 2009
CAPEX for FY2010 is expected to total approximately USD 950 million

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