OREANDA-NEWS. June 30, 2011. Mechel (NYSE: MTL), a leading Russian mining and steel group, announced financial results for the 1Q 2011, reported the press-centre of Mechel.

Revenue amounted to USD 2.9 billion

Consolidated adjusted EBITDA amounted to USD 567 million

Net income attributable to shareholders of Mechel amounted to USD 309 million

Yevgeny Mikhel, Mechel‘s Chief Executive Officer, commented on the 1Q 2011 results: ?Q1 2011 was not easy for the Company, with both positive and negative moments. Nevertheless, we have demonstrated stable operational and financial performance, kept implementing investment projects at the same high rate, and continued to optimize the debt portfolio. Having consolidated the results achieved last year, we established a secure basis for using favorable market price conditions in Q2 and Q3 at our key markets to maximum efficiency and for further active development.

Full report see here: http://www.mechel.com/media/Mechel%20Release%201Q2011_e.pdf