OREANDA-NEWS. May 28, 2012. Metinvest B.V., a parent company of the international vertically integrated steel and mining group of companies (jointly referred to as “Metinvest”), today published a trading update for the first quarter of 2012 ended 31 March 2012.

FINANCIAL HIGHLIGHTS

Consolidated revenues were USD 3,216 million

Adjusted EBITDA was USD 538 million with a margin of 16.7%

Net Profit was USD 170 million with a margin of 5.3%

Total loans and borrowings as of 31 March 2012 were USD 3,556 million, comprising USD 2,563 of long-term borrowings and USD 993 million of their current portion

Seller’s Notes were USD 319 million as of 31 March 2012

Cash and cash equivalents were USD 401 million at the end of the period

Capital expenditures were USD 168 million

OPERATIONAL HIGHLIGHTS

Crude steel production was 3,296 thousand tonnes

Coking coal output was 2,970 thousand tonnes

Production of iron ore concentrate was 9,189 thousand tonnes

METINVEST GROUP is a vertically integrated steel and mining group of companies, managing every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. The Group comprises steel and mining production facilities located in Ukraine, Europe and the USA and has a sales network covering all key global markets. Metinvest Group is structured into two operating divisions: Metallurgical and Mining Divisions and has a strategic vision to become the leading vertical integrated steel producer in Europe, delivering sustainable growth and profitability resilient to business cycles and providing investors with returns at above the industry benchmarks. The major shareholders of the Company are METINVEST B.V. (a holding company of Metinvest Group) are SCM Group яBляюTcя (71.25%) and Smart-Holding (23.75%), partnering in Company’s management.