OREANDA-NEWS. August 11, 2014. Q2 2014 KEY HIGHLIGHTS:

Group’s steelmaking capacities were running at 94% (+2 p.p. quarter-on-quarter);

Steel sales totaled 3.835 million t (-1% quarter-on-quarter);

Revenue went up to USD 2,808 million (+6% quarter-on-quarter);

EBITDA was USD 594 million (+27% quarter-on-quarter);

EBITDA margin was 21.2% (+3.5 p.p. quarter-on-quarter);

Net income was USD 158 million (-9% quarter-on-quarter);

Net debt totaled USD 2,103 million (-9% quarter-on-quarter);
Net debt/EBITDA was 1.14 (1.39 in Q1 2014).

OUTLOOK

According to preliminary estimates, in Q3 2014 steel production will grow to 4 million tonnes. Financial performance of the Group in Q3 2014 is expected to be in line with or marginally better than the Q2 results.