UPDATE&CORRECT: Severstal IFRS net profit plunges 62.1% to $136 mln in Apr–Jun

(Adjusts figures in headline, paragraph 1, adds link to full statement in last paragraph)

MOSCOW, Jul 20 (PRIME) -- The net profit of Russian steelmaker Severstal plunged 62.1% on the quarter to U.S. $163 million in April–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.

But revenue increased 9.3% to $1.931 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8.8% to $629 million.

In January–June, the net profit of the company contracted 43.6% on the year to $495 million. Revenue grew 38.1% on the year to $3.698 billion, and EBITDA soared 51.1% to $1.207 billion.

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

https://www.severstal.com/files/20645/Severstal%20Q2%202017%20Press%20Release.pdf

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