OREANDA-NEWS. On 03 June 2009 Veles Capital Released Daily Market Review:

Sitronics: negative again. Sales of Sitronics, JSC in 1Q 2009 by US GAAP totaled 215 mn USD versus 446 mn USD a year before. Net loss grew from 8 mn USD in 1Q 2008 to 40 mn USD in 1Q 2009.

Gazprom: extraction lowering does not stop. June 2 CDD FEC output data on gas extraction in Russia for January-May. According to the report in May gas extraction dropped in Russia by 28.4% to 40 bn cubic meters, and sum total for five months – by 19.3% to 237.7 bn cubic meters of gas.

NLMC gained 194 mn USD of net loss for 1Q 2009 by US GAAP. Sales totaled 1.293 bn USD (1.8 times less), EBITDA – 196 mn (4.3 times less), EBITDA margin – 15%. In 1Q 2009 loss has been assigned on the executed forward contracts in the amount of 150.8 mn USD. By the end of 1Q 2009 base value of not executed forward contracts and options formed 1.957 bn USD, net negative fair value of their value totaled 445 mn USD.

Mechel might reduce dividends for 2008 by 4.8 times. Mechel group’s board of directors recommended the holders at the annual meeting on June 30 to approve the dividends for 2008 in the amount of 5.53 RUR per common and 50.55 RUR per preferred share. The list of persons that obtain the right to participate in the annual meeting and collecting dividends for 2008 will be3 formed according to register data of holders as of June 4 2009.