Russia’s Severstal Oct–Dec IFRS net loss widens to $795 mln

MOSCOW, Feb 18 (PRIME) -- The net loss of Russian steel producer Severstal widened to U.S. $795 million in October–December from $45 million in the same period a year ago, as calculated under International Financial Reporting Standards, the company said in a statement Wednesday.

Revenue fell 16.2% to $1.878 billion.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 5.3% to $602 million.

The overall 2014 net loss amounted to U.S. $1.602 billion after a $83 million net profit a year ago. Revenue fell 12.1% to $8.296 billion and EBITDA grew 21.2% to $2.203 billion.

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