Mechel IFRS net profit falls 40% to 5 bln rbl in Jan–Jun

MOSCOW, Aug 23 (PRIME) -- The net profit of Russian metals and mining group Mechel, attributable to shareholders, fell 40% on the year to 4.994 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said on Wednesday.

The entire profit fell 38% to 5.682 billion rubles.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 56% to 40.227 billion rubles, and consolidated revenue increased 15% to 149.384 billion rubles.

The company’s net debt slightly decreased to 464.58 billion rubles as of June 30.

For further details, please, see the company’s report on its official Web site:

http://www.mechel.com/doc/doc.asp?obj=122099

(59.0396 rubles – U.S. $1)

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