OREANDA-NEWS. May 17, 2010. Underlying market conditions continued to improve during Q1 with benefits of price increases anticipated for Q2.

   Q1 2010 Q4 2009   Change,
 q-o-q		 Q1 2009   Change,
 y-o-y
 Revenue  3,142   3,389  (7.3%)  2,343  34.1%
 Profit/(loss) from operations  298  390  (23.6%)  (321)  n.a.
 EBITDA  492  620  (20.6%)  (117)  n.a.
 Net loss  (785)  (162)  n.a.  (656)  n.a.
 EPS, USD  (0.78)  (0.16)  n.a.  (0.65)  n.a.

OAO Severstal (LSE: SVST; RTS: CHMF), one of the world’s leading integrated steel and mining companies, today reports results for the three months ended 31 March 2010.

Financial Results for the three months ended 31 March 2010 (USD million unless otherwise stated)

Notes:

1 EBITDA represents profit from operations plus depreciation and amortisation adjusted for gain/(loss) on disposals of property plant and equipment.

2 Net loss attributable to shareholders.

3 As at 31 March 2010 Lucchini was classified as held for sale and reported as a discontinued operation. Lucchini’s results have therefore been excluded from revenue, profit/(loss) from operations and EBITDA figures in the the table above for  Q1 2010, Q4 2009 and Q1 2009, and in the commentary below.  The net loss and EPS figures for all periods include Lucchini’s losses.

4 These amounts reflect adjustments made in connection with the completion of purchase price allocation and discontinued operation.