Severstal’s IFRS net profit doubles to $386 mln in October–December

MOSCOW, Feb 4 (PRIME) -- The net profit of Russian steelmaker Severstal more than doubled on the quarter to U.S. $386 million in October–December, as calculated under International Financial Reporting Standards (IFRS), the company said on Thursday.

Revenue fell by 7% to $1.723 billion, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 8.2% to $710 million.

Net debt rose by 13.9% to $2.029 billion as of December 30. The net debt/EBITDA ratio rose to 0.84 from 0.77.

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