OREANDA-NEWS. October 12, 2011. Mechel (NYSE: MTL), a leading Russian mining and steel group, announced financial results for the 1H 2011, reported the press-centre of Mechel.

Revenue amounted to USD 6.4 billion

Consolidated adjusted EBITDA amounted to USD 1.2 billion

Net income attributable to shareholders of Mechel amounted to USD 501 million

Yevgeny Mikhel, Mechel’s Chief Executive Officer, commented on the 2Q 2011 results: “The company was quite successful in this period. Despite a few difficulties we had to contend with early in the year, we concentrated on restoring production volumes in our mining segment while preserving high capacity utilization rates in steel and other segments. Our efforts were also directed to the implementation of the company’s ambitious investment program.

“As a result, in the second quarter we demonstrated a growth in mining volumes and sales of nearly all our products, which, when combined with fairly favorable market conditions, enabled us to improve the financial results of the previous period.”

Full report see here: http://www.mechel.com/media/for_investors/fresults/16389BA8-4F58-4197-83FF-2DB02AA6DDB0/MechelRelease1H2011_eng.pdf