OREANDA-NEWS. On 25 December Chelyabinsk Zinc Plant (LSE: CHZN, RTS, MICEX: CHZN), Russia’s largest producer of zinc and zinc alloys, announced its FRS financial results for the nine months ended September 30, 2008.

MONTHS 2008 HIGHLIGHTS 

Revenue for the nine months of 2008 totaled RUB 8,318 million compared to RUB 1,646 for the same period last year.  

- 9  months  2008  EBITDA  amounted  RUB  726  million  and  was  equivalent  to  9%  of evenue compared to an EBITDA of RUB 3,266 million, equivalent of 28% of 9 months 2007 evenue. 

- Net loss for the first nine months of 2008 was RUB 1,093 million compared to RUB ,782 million profit for the nine months of 2007. 

- 9 months 2008 net earnings have been affected by decrease of LME zinc prices, RUB 96  million  exploration  and  evaluation  assets  written  off  based  on  the  results  of  the valuation of the reserves for the Amur deposit and non-cash accounting adjustment of RUB 79 million for goodwill.

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