OREANDA-NEWS. April 28, 2009. Evraz Group S.A. (LSE: EVR) today announces its audited financial results for the year ended 31 December 2008.

Highlights for FY 2008:

Financials:

Revenue advanced 58.5% to USD 20,380 million reflecting strong pricing during the first three quarters of the year, acquisitions and an improved sales mix.

Consolidated adjusted EBITDA rose 46.9% to USD 6,323 million.

Net profit attributable to equity holders of Evraz Group S.A. decreased by 11.2% to  USD 1,868 million affected by significant one-off charges and write-downs totalling  USD 1,857 million and the challenging market environment in the fourth quarter of 2008.

 Operating cash flow increased by 52.6% to USD 4,569 million, reflecting higher profit and the ongoing focus on working capital management.

Steel:
Crude steel production increased by 7.1% year-on-year to 17.7 million tonnes.Total steel sales volumes rose 3.9% to 17.0 million tonnes


Vanadium:
Revenues of vanadium segment increased by 106.9% to USD 1,206 million.
Sales volumes of vanadium products rose 18.9% year-on-year to 26,400 tonnes in vanadium  equivalent

Mining:


Iron ore self-coverage of 93%
Coking coal self-coverage of 89%

Corporate developments and acquisitions:


Acquisition of Claymont Steel for USD 420 million completed in January
Acquisition of IPSCO Canada for USD 2,450 million completed in June
Acquisition of select Ukrainian assets for USD 1,110 million and 4,195,150 new Evraz shares
completed in September
Successful bond placements totalling USD 2.0 billion completed in April and May

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