OREANDA-NEWS. On September 03, 2007 Open Joint Stock Company Magnitogorsk Iron and Steel Works (LSE: MMK), one of the leading Russian integrated steel making companies, announced the results of its consolidated financial statements for the first six months of 2007 according to US GAAP, reported the press-centre of MMK.

The revenue of MMK Group in the first half of 2007 increased by 43,88% compared to the first six months of 2006 and amounted to USD   4 000 million.

The income from operating activities came to USD 1 077 million or 26,93% of the revenue.  The growth compared to the first half of 2006 amounted to 56,09%.

The consolidated net income of the company for the first half of 2007 increased by 47,28% from the similar period of the last year and amounted to USD 866 million, i.e. USD 0,083 per share.   The net income accounted for 21,65 % of the revenue.

EBITDA for the first six months of 2007 came to USD 1 205 million or 30,13% of the  revenue. Compared with the first half of 2006 EBIDTA of the company grew by USD 420 million or 53,50%.  

The results of consolidated financial statements for the first half of 2007 prepared according to US GAAP are given at: http://www.mmk.ru/eng/financial/2007/index.wbp

The presentation of the results of consolidated financial statements for the first half of 2007 prepared according to US GAAP are given at:
http://www.mmk.ru/eng/invrelations/presentations/index.wbp