OREANDA-NEWS. May 17, 2011. EVRAZ Group S.A. (LSE: EVR) (“EVRAZ”) today issued its first quarter of 2011 trading update.

Highlights:

Revenue for the three-month period ended 31 March 2011 was USD 3,894 million
Adjusted EBITDA [1] was USD740 million [2] with adjusted EBITDA margin of 19%
Interest expense was USD 191 million
Total debt as of 31 March 2011 amounted to USD 7,809 million, including USD 713 million of short-term loans and current portion of long-term debt
Cash and cash equivalents at the end of the period stood at USD 629 million
Capital expenditures amounted to USD 200 million
Total steel products sales in the three-month period ended 31 March 2011 amounted to 3.9 million tonnes
Iron ore sales volumes including intersegment shipments totalled 5.2 million tonnes
Coal sales including intersegment shipments were 2.1 million tonnes, including 0.6 million tonnes of raw coking coal, 0.3 million tonnes of steam coal, 1.2 million tonnes of coking coal concentrate and 0.1 million tonnes of steam concentrate

[1] Profit from operations before depreciation, depletion and amortisation, impairment of assets, loss (gain) on disposal of property, plant & equipment and foreign exchange loss (gain).
 [2] This number includes USD 16 million penalties related to Ukrainian operations in 2008. Excluding this item EBITDA would have been USD 756 million.