OREANDA-NEWS. February 10, 2010. Mariupol Illich Steelworks finished the year 2009 with losses amounting to UAH 255.94mn. These numbers were disclosed in the announcement released for the Company’s AGM scheduled for March 31, 2010. The announcement also said of yet-to-be-allocated losses by the end of the year in the amount of UAH 93.4mn against retained profits in the amount of UAH 1,462.527mn posted last year.

Millennium Capital: these numbers would not shock the general public, taking into consideration the past year that proved hard for the steelmakers. However, the financial results disclosed now are in stark contrast to the previous statement of the Company’s CEO Mr. Boyko who claimed in late December 2009 that a successful 4Q09 was expected for the Company, with estimated profit at the previously achieved level of UAH 250mn. Millennium Capital has no information yet about the causes that turned the actual results quite the opposite way.