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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Evraz Plc | LSE:EVR | London | Ordinary Share | GB00B71N6K86 | ORD USD0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.68 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7156C Evraz Group S.A. 10 May 2006 10.05.2006 Evraz Group's major operating subsidiaries report Q1 2006 RAS Financial Results May 10, 2006 - Evraz Group S.A. (LSE: EVR), one of the leading vertically integrated steel production and mining businesses with operations mainly in Russia, announces that its major Russian operating subsidiaries(1) have filed financial results with the Federal Financial Markets Service of the Russian Federation (FFMS) for the three months ended March 31, 2006. The results are prepared in accordance with Russian accounting standards (RAS). The filing of RAS accounting results for Evraz's major Russian operating subsidiaries is a Russian regulatory requirement. RAS accounting results differ materially from IFRS and are not comparable to financial statements prepared in accordance with IFRS. The RAS accounting results of Evraz's major Russian subsidiaries are not indicative of the financial condition or results of operations of these entities or of Evraz Group S.A. under IFRS. Reference should be made only to Evraz Group S.A.'s consolidated financial statements prepared in accordance with IFRS for information with respect to Evraz's financial condition and results of operations. Evraz Group S.A. publishes consolidated financial statements prepared in accordance with IFRS for the six months ended June 30 and for the year ended December 31, in each year. -------------------------- (1) The major subsidiary companies include: OAO Nizhny Tagil Iron and Steel Plant (NTMK); OAO West Siberian Iron and Steel Plant (Zapsib); OAO Kachkanarsky Mining and Processing Integrated Works (KGOK) Highlights * NTMK profit lower due to significant drop in export prices vs Q1 2005; Zapsib performance improved due to better cost management and increased volumes Prices for exported semis in Q1 2006 were lower in comparison with peaking prices of Q1 2005; however recovering prices are the main factor for a better performance in Q1 2006 vs Q4 2005. Higher net profit at NTMK and Zapsib in Q4 2005 as compared to Q1 2006 is partially attributable to dividend payments made by KGOK to these two mills at the end of 2005. Excluding the amounts paid as dividends by KGOK to NTMK (RUR2,364 million)and Zapsib (RUR1,797 million), the net profit in Q1 2006 at these two steel mills would have been -26% and +8% against Q4 2005. * KGOK decreased profit year-on-year due to lower domestic prices and destocking The profit year-on-year was impacted by lower domestic iron ore prices starting from mid-2005. Iron ore volumes decreased in Q1 2006 vs Q4 2005 due to optimisation of inventory levels and bad weather conditions. * Improved profitability at KGOK due to restructuring and effective cost management The restructuring programme at KGOK is yielding results: strict cost management and efficiency gains in Q1 2006 contributed to better performance vs Q4 2005. Revenue grew by 5% and net profit was up 53% as compared to Q4 2005. Q1 2006 RAS Financial Results for Subsidiaries (All amounts are in millions of roubles, unless specified otherwise) OAO Nizhny Tagil Iron and Steel Plant (NTMK) ----------------- ------- ------- --------- -------- --------- Q1 2006 Q1 2005 Q1 2006/ Q4 2005 Q1 2006/ Q1 2005 Q4 2005 change, % change, % ----------------- ------- ------- --------- -------- --------- Revenue 14,821 19,452 (24%) 15,811 (6%) Gross profit 4,636 6,263 (26%) 4,962 (7%) Operating profit 3,920 5,527 (29%) 4,231 (7%) Net profit 2,733 4,212 (35%) 6,071 (55%) ------------- --------- -------- --------- --------- --------- OAO West Siberian Iron and Steel Plant (Zapsib) ----------------- ------- ------- --------- --------- --------- Q1 2006 Q1 2005 Q1 2006/ Q4 2005 Q1 2006/ Q1 2005 Q4 2005 change, % change, % ----------------- ------- ------- --------- --------- --------- Revenue 14,085 15,207 (7%) 13,811 2% Gross profit 2,703 2,970 (9%) 2,976 (9%) Operating profit 1,941 2,176 (11%) 2,185 (11%) Net profit 1,371 1,525 (10%) 3,067 (55%) ---------------- ------- ------- -------- --------- --------- OAO Kachkanarsky Mining and Processing Integrated Works (KGOK) ----------------- ------- ------- --------- --------- --------- Q1 2006 Q1 2005 Q1 2006/ Q4 2005 Q1 2006/ Q1 2005 Q4 2005 change, % change, % ----------------- ------- ------- --------- --------- --------- Revenue 2,908 4,264 (32%) 2,75 5% Gross profit 1,409 2,784 (49%) 1,154 22% Operating profit 1,257 2,661 (53%) 967 30% Net profit 1,051 2,118 (50%) 689 53% ----------------- ------- ------- ---------- --------- ---------- For further information: Evraz Group Corporate Affairs and Investor Relations Irina Kibina Tel: +7 495 232 1370 IR@evraz.com www.evraz.com This information is provided by RNS The company news service from the London Stock Exchange END QRFEAXSEFENKEEE
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