We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 |
TIDMEVR
RNS Number : 9999E
Evraz Group S.A.
15 April 2011
EVRAZ GROUP 1Q 2011 OPERATIONAL RESULTS
15 April 2011 - Evraz Group S.A. (LSE: EVR) ("EVRAZ") today released its operational results for the first quarter of 2011.
HIGHLIGHTS:
-- Production of steel and major rolled products increased in 1Q11 as a result of completion of converter shop modernisation at the end of 2010 and improved demand in key markets.
-- Pricing for major product groups increased, reflecting continuous recovery in all the world markets.
-- Iron ore production grew up as a result of efficiency improvements
-- Coking coal production decreased due to one-off events such as longwall repositioning and temporary closure of a mine for air-gas mix monitoring and expected to be higher in 2011 than in 2010.
STEEL
The production of finished goods in a year on year first quarter comparison demonstrated growth of 3-14% across the product set. On a sequential quarter-on-quarter basis, the data reflects seasonality in the business. Consolidated rolled products volumes increased 7.0% in 1Q11 compared to the previous quarter. There was a 14.0% increase in production of semi-finished products for sale driven by demand and higher prices globally; a 20.2% increase in flat-rolled products output due to recovering markets in Europe and North America; and a 23.2% decrease in tubular goods production due to spring breakup season in North America.
Russia
Russian mills produced more crude steel (+5.4% vs. 4Q10 and +10.0% vs. 1Q10) following modernisation of the converter shop at EVRAZ NTMK which was completed at the end of 2010.
Production of steel rolled products has increased both compared to the previous quarter (+3.7%) and to the similar period last year (+10.1%) as a result of crude steel volumes expansion and a continuous recovery in the Russian and global markets. The year-on-year output of construction products was 10.0% higher in 1Q11 than in 1Q10 and slightly decreased compared to 4Q10 due to seasonal slowdown of the construction activity.
Ukraine
EVRAZ DMZ produced 26.3% more semi-finished products and 13.9% less construction products in 1Q11 compared to 4Q10 due to seasonality.
Europe
In 1Q11, EVRAZ Vitkovice Steel doubled the production of crude steel compared with 4Q10, after reaching an agreement on hot metal supplies in mid-November 2010.
Flat-rolled product output increased by 22.3% in 1Q11 compared to 4Q10 as a result of significant market improvement, particularly in Germany and Central Europe. Production of premium plate and cut shapes (Other steel products) increased due to higher demand from energy-related (wind towers, line pipes) and yellow goods sectors.
North America
Production of tubular goods decreased by 23.2% against the 4Q10 volumes and remained at the same level as in 1Q10 driven by the seasonality of the tubular goods industry. 4Q is typically a strong period and in March, April, and May, during the spring breakup, when oil and gas industry activity is low, tubular mills intentionally reduce production in anticipation of a decline in sales. The seasonal weakening of demand did not impact EVRAZ seamless pipe business which continued its expansion through market share gain. A big large diameter pipe order at the EVRAZ Regina spiral weld mill was completed in 2010, but production of large diameter pipes at EVRAZ Regina remains strong. The mill is now producing pipes under small orders from different customers which increases overall changeover time.
In 1Q11, flat-rolled production increased by 30.1% from Q4 2010 and by 10.4% from 1Q10 as a result of significant growth in end-user demand for plate and general improvement of the market sentiment.
Production of railway products at EVRAZ Pueblo showed a 28.3% increase year over year reflecting a general increase in the US rail market.
Construction product output decreased by 10.5% in 1Q11 compared to 1Q last year and by 23.8% compared to 4Q10. Beginning from the first quarter of 2010, the production of rod and bar decreased quarter over quarter at EVRAZ Pueblo as Evraz has prioritised the production of seamless pipes and rails, two higher margin products, over rods and bars, as EVRAZ Pueblo has limitations on total steel output.
South Africa
Pig iron production and crude steel declined by 7.9% and 5.0% respectively vs. 4Q10 due to operational issues at EVRAZ Highveld's iron and steel making facilities.
Production of construction steel increased by 35.4% compared to 4Q10 - the market recovered after the weakness in 4Q10 that had led to the rolling mill's three-week shutdown in November-December 2010. Volumes of flat-rolled products increased by 10.2% vs. 4Q10 due to stronger demand for plate and its shortage in the local market as well as restocking. Improved demand for finished products almost fully eliminated export of semi-finished products.
MINING
Iron Ore
Sinter and pellet production in Russia increased by 19.2% and 1.1% respectively in 1Q11 vs. 4Q10 and by 11.3% and 14.6% respectively vs. 1Q10 as a result of increased mined iron ore volumes.
Sukha Balka in Ukraine produced 54.4% less lumpy ore in 1Q11 compared to 4Q10 because of a scheduled lifting equipment upgrade at the Yubileynaya mine.
Coking Coal
Raw coking coal production at Yuzhkuzbassugol declined by 17.4% against 4Q10 resulting from the temporary technical issues: longwall repositioning at the Yesaulskaya mine and temporary shutdown of the Alardinskaya mine to conduct air-gas mix monitoring. We expect coking coal volumes to recover in the next quarter with 2011 volumes being higher than in 2010.
Steam Coal
Raw steam coal production was up 37.4% in 1Q11 compared to 4Q10 after the completion of the longwall equipment repositioning at the Gramoteinskaya mine held in September 2010 through January 2011. The output decreased by 45.2% compared to 1Q10, following shutdown of the Tagaryshskaya mine for a safety inspection in 4Q10 and the resulting decision to lay up the mine.
The production of steam concentrate decreased by 10.2% vs. 4Q10 due to refusal of the third party, the Listvyazhnaya Coal Washing Plant, to concentrate raw steam coal mined by Yuzhkuzbassugol.
VANADIUM
Production of vanadium slag, a by-product of steel production, increased by 12.9% at NTMK in Russia and decreased by 2.6% at Highveld in South Africa in 1Q11 compared to 4Q10 in correlation with steel production.
Production of ferrovanadium rose by 33.2 % and of Nitrovan(R) by 38.3% in 1Q11, with all the sites operating at maximum V2O5 production capacity and with restart of slag processing in China which increased V2O5 available for processing in 1Q11.
* * *
Please note that the total volume of rolled steel products in the table below excludes those re-rolled at other Group's mills. These volumes are eliminated as intercompany sales for purposes of Evraz's consolidated operating results.
PRODUCTION VOLUMES
1Q11/ 1Q 2011/ Product, '000 tonnes 1Q 1Q10, 4Q 2010, unless otherwise stated 1Q 2011 2010 change* 4Q 2010 change* Steel products Coke (saleable) 426 616 (30.8)% 396 7.6% Pig iron 3,066 2,991 2.5% 2,889 6.1% Pig iron (saleable) 22 20 5.9% 32 (33.2)% Crude steel 4,388 3,997 9.8% 4,145 5.9% Rolled products, net of re-rolled volumes 4,022 3,576 12.5% 3,760 7.0% Semi-finished products 1,096 955 14.8% 962 14.0% Construction products 1,274 1,197 6.4% 1,302 (2.2)% Railway products 502 451 11.5% 466 7.8% Flat-rolled products 720 632 13.8% 599 20.2% Tubular products 199 193 2.9% 259 (23.2)% Other steel products 232 147 57.1% 173 34.0% Russia Coke (saleable) 140 261 (46.4)% 126 11.3% Pig iron 2,654 2,571 3.2% 2,462 7.8% Pig iron (saleable) 15 19 (21.7)% 17 (11.0)% Crude steel 3,187 2,897 10.0% 3,024 5.4% Rolled products, net of re-rolled volumes 2,858 2,596 10.1% 2,757 3.7% Semi-finished products 1,231 1,106 11.3% 1,162 5.9% Construction products 1,003 913 10.0% 1,020 (1.7)% Railway products 387 360 7.2% 349 10.9% Flat-rolled products 75 90 (16.3)% 77 (3.0)% Other steel products 162 128 27.1% 148 9.4% Ukraine Coke (saleable) 286 355 (19.3)% 270 5.9% Pig iron 220 240 (8.2)% 219 0.6% Pig iron (saleable) 7 1 354.9% 16 (56.7)% Crude steel 230 249 (7.3)% 218 5.5% Rolled products 204 222 (8.1)% 193 5.6% Semi-finished products 74 120 (38.5)% 59 26.3% Construction products 105 96 8.7% 122 (13.9)% Other steel products 25 6 345.0% 13 95.1% Europe Crude steel 182 96 90.2% 93 94.5% Rolled products 369 248 49.2% 283 30.7% Construction products 32 36 (12.9)% 31 1.6% Flat-rolled products 302 205 47.2% 247 22.3% Other steel products 36 6 477.7% 5 685.4% North America Crude steel 588 574 2.5% 598 (1.6)% Rolled products, net of re-rolled volumes 658 627 5.0% 668 (1.4)% Construction products 80 104 (23.8)% 89 (10.5)% Railway products 116 90 28.3% 117 (1.1)% Flat-rolled products 264 239 10.4% 203 30.1% Tubular products 199 193 2.9% 259 (23.2)% South Africa Pig iron 192 180 6.6% 209 (7.9)% Crude steel 201 183 9.9% 212 (5.0)% Rolled products 157 154 2.5% 146 7.8% Semi-finished products 17 0 n/a 28 (39.7)% Construction products 54 48 13.5% 40 35.4% Flat-rolled products 79 98 (20.0)% 71 10.2% Other steel products 8 8 3.5% 7 16.2% Mining products Iron ore Lumpy ore (Ukraine)( ) 345 476 (27.7)% 756 (54.4)% Concentrate, saleable (Russia) 1,466 1,421 3.1% 1,472 (0.4)% Sinter (Russia) 1,121 1,077 11.3% 940 19.2% Pellets (Russia) 1,516 1,323 14.6% 1,499 1.1% Fines ore (South Africa) 152 166 (8.1)% 152 0.4% Lumpy ore (South Africa) 359 433 (16.9)% 391 (8.1)% Coal Coking coal (mined) 1,839 2,211 (16.8)% 2,226 (17.4)% Steam coal (mined) 712 1,300 (45.2)% 518 37.4% Concentrate (production) 1,768 1,830 (3.4)% 1,808 (2.2)% Steam concentrate (production) 177 332 (46.7)% 197 (10.2)% Vanadium products (tonnes of V) (1) Vanadium in slag (gross production) 4,936 5,060 (2.4)% 4,980 (0.9)% Russia 2,925 3,158 (7.4)% 2,590 12.9% South Africa 2,011 1,901 5.7% 2,390 (15.9)% Vanadium in final products (saleable) Ferrovanadium 4,021 3,873 3.8% 3,018 33.2% Produced at own facilities 1,502 1,407 6.8% 1,268 18.5% Processed at 3(rd) parties' facilities 2,519 2,466 2.1% 1,750 43.9% Nitrovan(R) 682 661 3.1% 493 38.3% Oxides, vanadium aluminium and chemicals 227 355 (35.9)% 350 (35.1)% Equity investments Raspadskaya (2) Coking coal (mined) 1,775 3,031 (41.4)% 1,274 39.4%
*Numbers may not add to totals due to rounding. Percent changes based on numbers prior to rounding.
1 Calculated in pure vanadium equivalent.
2 Evraz Group holds a 40% effective interest in the Raspadskaya coal company.
AVERAGE SELLING PRICES
USD/tonne (ex works) unless otherwise stated 1Q 2011 4Q 2010 1Q 2010 Steel products Russia Coke 243 210 164 Pig iron 455 392 325 Rolled products Semi-finished products 505 452 333 Construction products 736 639 500 Railway products 829 767 673 Flat-rolled products 739 607 503 Other steel products 766 699 550 Ukraine Coke 304 279 234 Pig iron 513 365 363 Rolled products Semi-finished products 536 511 366 Construction products 683 599 473 Other steel products 843 891 1,110 Europe Rolled products Construction products 869 821 684 Flat-rolled products 862 804 579 North America Rolled products Construction products 836 764 724 Railway products 1,021 941 924 Flat-rolled products 1,035 856 798 Tubular products 1,448 1,426 1,342 South Africa Rolled products Semi-finished products 500 429 337 Construction products 673 586 675 Flat-rolled products 740 771 655 Other steel products 585 446 814 Mining products Iron ore Lumpy ore (Ukraine) 70 60 35 Concentrate, saleable (Russia) 110 88 70 Sinter (Russia) 132 107 151 Pellets (Russia) 128 97 49 Fines ore (South Africa) 31 31 26 Coal Coking coal 95 80 55 Steam coal 34 27 25 Concentrate 181 158 113 Steam concentrate 73 52 52 Vanadium products (USD/t of V) Vanadium in final products Ferrovanadium 26,698 27,939 23,838 Nitrovan(R) 29,149 28,958 26,089 Oxides, vanadium aluminium and chemicals 40,127 39,516 36,614
Notes:
Semi-finished products include slabs, billets, pipe blanks and other semi-finished products.
Construction products include beams, channels, angles, rebars, wire rods, wire, and other construction products.
Railway products include rails, wheels, tyres and other railway products.
Flat-rolled products include commodity plate, specialty plate and other flat products.
Tubular products include large diameter line pipes, ERW pipes and casings, seamless pipes and other tubular products.
Other steel products include rounds, grinding balls, mine uprights, strips etc. For Ukraine they also include railway products, for Europe - slabs and crane rails; for South Africa - rails.
###
For further information:
Media contact: Oleg Kuzmin VP, Corporate Communications +7 495 937 6871 media@evraz.com
Investor contact: Alexander Boreyko Director, Investor Relations +7 495 232 1370
ir@evraz.com
Evraz Group S.A. (EVRAZ) is a vertically-integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, the USA, Canada, the Czech Republic, Italy and South Africa. The Company was ranked the 14(th) largest steel producer in the world based on crude steel production of 15.3 million tonnes in 2009. In 2010, the Company produced 16.3 million tonnes of crude steel and sold 15.5 million tonnes of steel rolled products. EVRAZ's internal consumption of iron ore and coking coal is covered by its mining operations. EVRAZ's consolidated revenues for the year ended 31 December 2010 were US$13,394 million and consolidated adjusted EBITDA amounted to US$2,350 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCEANLSFALFEEF
1 Year Evraz Chart |
1 Month Evraz Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions