Severstal IFRS net profit surges 86% to $1.473 bln in Jan–Sep

MOSCOW, Oct 19 (PRIME) -- The net profit of Russian steelmaker Severstal surged 86% on the year to U.S. $1.473 billion in January–September, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.

Revenue went up 14.6% on the year to $6.495 billion in the period due to favorable prices for steel at the global market and due to a 4% year-on-year increase in steel sales.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 28.8% to $2.348 billion.

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

https://www.severstal.com/eng/media/news/document23286.phtml

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