MOSCOW, Jul 22 (PRIME) -- The net profit of Russian steelmaker Novolipetsk Steel (NLMK) grew by 75% on the quarter to U.S. $1.359 billion in April–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.
Revenue increased by 44% to $4.139 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 76% to $2.052 billion.
Free cash flow expanded by 90% to $864 million.
The net debt fell by 6% in the period to $1.963 billion as of June 30. The net debt/EBITDA ratio fell to 0.42 from 0.65 in the previous quarter.
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