Severstal IFRS net profit rises 28.4% to $461 mln in January–March

MOSCOW, Apr 17 (PRIME) -- The net profit of Russian steelmaker Severstal went up 28.4% on the year to U.S. $461 million in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.

Revenue grew 23% on the year to $2.173 billion in the period, and operating profit rose 22.9% to $585 million.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 22.1% to $706 million, but the EBITDA margin shrank to 32.5% from 32.7%.

The company’s free cash flow more than quadrupled to $289 million.

For further details, see the company’s statement on its official website:

https://www.severstal.com/eng/media/news/document21742.phtml

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