NLMK Announces Consolidated US GAAP Results for Q2 2013
OREANDA-NEWS. NLMK, the LSE-listed leading steel producer, today announces its consolidated US GAAP results for Q2 2013.
Q2 2013 KEY HIGHLIGHTS:
Revenue: USD 2,829 million (-1% qoq)
EBITDA: USD 400 million (+26% qoq), EBITDA margin 14% (11% in Q1 2013)
Net income: USD 34 million
Net debt: USD 3,424 million (-1%)
Sales: 3.77 million t (flat qoq)
Sales to external markets: 63% of the total sales (-2p.p. qoq)
Sales of high value added products: 1.38 million t (+4% qoq)
Steelmaking capacities utilization rate: 94%.
In Q3, NLMK Group capacity utilization rates will remain consistently high. Crude steel output will increase by 4% to 3.9 million t. We expect our Q3 revenue to remain flat quarter-on-quarter. Profit performances will depend on the trends for steel product and key raw material prices that will remain volatile.