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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 |
|---|---|---|---|---|---|
| Bitmns Coal Undergrnd Mining | 14.16B | 3.03B | 2.0799 | 0.40 | 1.21B |
From Apr 2019 to Apr 2024
TIDMEVR
RNS Number : 7965V
Evraz Plc
26 July 2018
EVRAZ Q2 2018 TRADING UPDATE
26 July 2018 - EVRAZ plc (LSE: EVR; "EVRAZ" or the "Group") today released its trading update for the second quarter of 2018.
Please note that Q1 2018 production and sales volumes data have been updated due to adjustments in intragroup sales and coal classification. See the respective notes below the tables on pages 2, 4 and 7 for details.
Q2 2018 vs Q1 2018 HIGHLIGHTS:
-- In Q2 2018, EVRAZ' consolidated crude steel output grew by 3.9% QoQ to 3.5 million tonnes, primarily due to higher pig iron production.
-- Sales of finished products rose by 10.3%, primarily attributable to stronger domestic demand for construction and railway products, as well as improved market demand in North America. This was partly offset by a 7.8% decrease in sales of semi-finished products, reflecting a change in the sales mix.
-- Production of raw coking coal fell by 9.2% QoQ to 5.4 million tonnes mainly following scheduled transition of production at Raspadskaya mine from three to two longwalls.
-- Coking coal product sales climbed by 6.3% QoQ, mainly due to the completion of a longwall repositioning at the Uskovskaya mine and improved weather, which positively affected raw coal shipments.
-- External sales of iron ore products dropped by 13.2% QoQ amid higher consumption of pellets by EVRAZ NTMK after the launch of blast furnace no. 7.
-- Sales of vanadium products rose by 7.7% QoQ, mainly due to sales brought forward from H2 2018 to Q2 2018 to take advantage of strong market conditions.
Hot Features
Premium
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018/ Q1 2018, H1 2018 H1 2017 H1 2018/ H1 2017, change
change
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
Total crude steel
production 3,481 3,351 3.9% 6,832 6,990 -2.3%
Russia 2,996 2,730 9.7% 5,726 5,742 -0.3%
Ukraine - 154 -100.0% 154 388 -60.3%
North America* 485 467 3.9% 952 860 10.7%
Total raw coking coal
mined 5,422 5,969 -9.2% 11,391 11,651 -2.2%
Total coking coal
concentrate
production 3,907 4,154 -5.9% 8,061 7,217 11.7%
Iron ore products
production 3,424 3,431 -0.2% 6,855 6,894 -0.6%
Total sales of steel
products** 3,148 3,068 2.6% 6,216 6,550 -5.1%
Semi-finished
products** 1,202 1,303 -7.8% 2,505 2,932 -14.6%
Finished products 1,946 1,765 10.3% 3,711 3,618 2.6%
Total sales of
third-party steel
products 247 170 45.3% 417 370 12.7%
Sales of coking coal
products** 2,885 2,713 6.3% 5,599 4,686 19.5%
Sales of iron ore
products 508 585 -13.2% 1,093 1,416 -22.8%
Sales of vanadium final
products*** 3,348 3,108 7.7% 6,456 8,123 -20.5%
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
Note. Numbers in this table and the tables below may not add up to totals due to rounding.
* The Q2 2018 production and sales volumes of Evraz North America are preliminary.
** The Q1 2018 data have been updated due to adjustments in intragroup sales. In addition, the data for the following reporting periods have been restated: for Q1 2017, Total sales of steel products = 3,189, Semi-finished products = 1,497; for Q4 2017, Total sales of steel products = 3,346, Semi-finished products = 1,674.
*** in tonnes of pure vanadium
STEEL SEGMENT
Total production volumes (RUSSIA and UKRAINE)
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / H1 2017,
change change
----------------------------- -------- -------- -------------------- --------- --------- ---------------------
Pig iron production 2,681 2,571 4,3% 5,252 5,689 -7,7%
EVRAZ ZSMK 1,515 1,397 8,4% 2,912 2,777 4,9%
EVRAZ NTMK 1,166 1,020 14,3% 2,186 2,423 -9,8%
EVRAZ DMZ 0 153 -100,0% 153 489 -68,7%
Crude steel production 2,996 2,884 3,9% 5,880 6,130 -4,1%
EVRAZ ZSMK 1,962 1,790 9,6% 3,752 3,597 4,3%
EVRAZ NTMK 1,034 940 10,0% 1,974 2,145 -8,0%
EVRAZ DMZ 0 154 -100,0% 154 388 -60,3%
Iron ore products production 3,424 3,431 -0,2% 6,855 6,894 -0,6%
Pellets (EVRAZ KGOK) 1,626 1,651 -1,5% 3,277 3,182 3,0%
Sinter (EVRAZ KGOK) 904 831 8,8% 1,735 1,766 -1,8%
Concentrate saleable
(Evrazruda, EVRAZ KGOK) 894 949 -5,8% 1,843 1,946 -5,3%
Coking coal concentrate
production 518 522 -0,8% 1,041 986 5,6%
From own raw coal* 319 282 13,1% 601 425 41,4%
From third-party raw coal 199 240 -17,1% 440 561 -21,6%
Gross vanadium slag
production** 4,394 4,020 9,3% 8,414 9,348 -10,0%
----------------------------- -------- -------- -------------------- --------- --------- ---------------------
Note. Numbers in this table and the tables below may not add up to totals due to rounding.
* from Coal segment
** in tonnes of pure vanadium
In Q2 2018, EVRAZ' pig iron output at its Russian mills grew by 4.3% QoQ to 2.7 million tonnes. This was primarily driven by a low-base effect caused mostly by reduced productivity in Q1 2018 following the shutdown of EVRAZ NTMK's blast furnace no. 6 and the launch of blast furnace no. 7.
In Ukraine, pig iron production decreased due to the disposal of EVRAZ DMZ in March 2018.
Crude steel output grew by 3.9% QoQ to 3 million tonnes following an increase in overall pig iron output.
Consolidated output of vanadium slag grew by 9.3% QoQ, which was in line with higher pig iron production.
Total sales volumes (RUSSIA, UKRAINE, KAZAKHSTAN and EUROPE)
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / H1 2017,
change change
------------------------ -------- -------- ------------------------ --------- --------- ------------------------
Coke* 73 110 -33.6% 184 303 -39.3%
Steel products,
external sales* 2,598 2,586 0.5% 5,185 5,607 -7.5%
Semi-finished products* 1,202 1,303 -7.8% 2,505 2,932 -14.6%
Slabs* 540 422 28.0% 962 1,118 -14.0%
Billets* 538 763 -29.5% 1,301 1,418 -8.3%
Other steel products* 123 119 3.4% 242 396 -38.9%
Finished products 1,397 1,283 9.0% 2,680 2,675 0.2%
Construction products 806 735 9.7% 1,541 1,640 -6.0%
Railway products 361 308 17.2% 669 666 0.5%
Flat products 94 94 0.0% 188 110 70.9%
Other steel products 136 146 -6.8% 282 259 8.9%
Steel products,
inter-segment sales 174 129 34.9% 303 303 0.0%
Sales of third-party
steel products,
external sales 247 170 45.3% 417 370 12.7%
Sales of iron ore
products, external
sales 508 585 -13.2% 1,093 1,416 -22.8%
Pellets 504 585 -13.8% 1,089 637 71.0%
Other 4 0 100.0% 4 779 -99.5% Sales of vanadium final products*** 3,348 3,108 7.7% 6,456 8,123 -20.5% ------------------------ -------- -------- ------------------------ --------- --------- ------------------------
Note. Numbers in this table and the tables below may not add to totals due to rounding.
* The Q1 2018 data have been updated due to adjustments in intragroup sales. In addition, the data for the following reporting periods have been restated: for Q1 2017, Coke = 113, Steel products, external sales = 2,720, Semi-finished products = 1,497, Slabs = 613, Billets = 757, Other steel products = 127; for Q4 2017, Coke = 273, Steel products, external sales = 2,878, Semi-finished products = 1,674, Slabs = 521, Billets = 960, Other steel products = 192. Other steel products include tonnes of pig iron.
*** in tonnes of pure vanadium
In Q2 2018, external sales of steel products were flat QoQ. Sales of semi-finished products fell by 7.8% QoQ, mainly due to lower sales of billets, reflecting a change in the sales mix in favour of slabs, which offered higher margins on export markets, and finished products.
Sales of finished products rose by 9.0% QoQ, driven by higher sales of construction products due to stronger domestic demand for rebars and sections.
Sales of railway products grew by 17.2% QoQ amid changes in the product mix at EVRAZ ZSMK's rail mill and higher demand from Russian Railways.
Sales of iron ore products decreased by 13.2% QoQ due to higher consumption by EVRAZ NTMK after the launch of blast furnace no. 7.
Sales of vanadium products grew by 7.7% QoQ, mainly due to sales brought forward from H2 2018 to Q2 2018 to take advantage of strong market conditions.
Cash cost, US$/tonne Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / H1 2017,
change change
------------------------- -------- -------- ----------------------- --------- --------- ------------------------
Slab cash cost
(vertically integrated) 240 256 -6.3 % 248 254 -2.4 %
Iron ore products (Fe
62%) 35 38 -7.9 % 37 35 5.7 %
Average selling prices
US$/tonne (ex works) Q2 2018 Q1 2018 H1 2018 H1 2017 ------------------------------------------------------------- -------- -------- -------- -------- Coke 244 264 255 215 Steel products 558 544 551 439 Semi-finished products* 482 439 462 344 Construction products 608 618 613 514 Railway products 687 720 702 632 Other steel products 643 628 635 524 Pellets 65 61 63 74 Metal Bulletin Ferro-Vanadium basis 78% min, free DDP, consumer plant, 1st grade Western Europe** 69.15 61.90 65.53 26.16 Ryan's Notes N.A. FeV 80% min, US ex-warehouse, duty paid** 75.69 63.32 69.51 27.17 ------------------------------------------------------------- -------- -------- -------- --------
* includes prices for pig iron
** US$/kgV
In Q3 2018, the Group expects its pig iron production to decrease by roughly 8% due to scheduled capital repairs of EVRAZ ZSMK's blast furnace no.3 in August-November. In Q3 2018, pellet production at EVRAZ KGOK is expected to decrease by around 3.5% due to the scheduled repairs of indurating machine no. 1 in September-October.
STEEL, NORTH AMERICA SEGMENT
Production and sales volumes
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / H1 2017,
change change
------------------------- -------- -------- ----------------------- --------- --------- ------------------------
Crude steel 484 467 3.6% 951 860 10.6%
EVRAZ Pueblo 228 228 0.0% 456 412 10.7%
EVRAZ Regina 256 239 7.1% 495 448 10.5%
Sales of steel products 549 482 13.9% 1 031 943 9.3%
Construction products 72 69 4.3% 141 126 11.9%
Railway products 111 96 15.6% 207 206 0.5%
Flat-rolled products 162 142 14.1% 304 271 12.2%
Tubular products 204 175 16.6% 379 340 11.5%
* The Q2 2018 production and sales volumes data are preliminary.
In Q2 2018, crude steel production grew by 3.6% QoQ, primarily driven by improved utilisation at EVRAZ Regina due to unplanned downtime in the electric-arc furnace and caster in Q1 2018 not repeating.
Sales of construction products climbed by 4.3% QoQ and sales of railway products were up 15.6% QoQ, as a result of improved demand.
Sales of flat-rolled products surged by 14.1% QoQ due to stronger demand, partly driven by the impact of Section 232 import tariffs.
Sales of tubular products increased by 16.6% QoQ amid improved demand and favourable sales terms in small-diameter line pipe.
Prices for construction and flat-rolled products rose during the reporting period, reflecting higher prevailing prices for scrap and other inputs, reduced pressure from imports and improving demand fundamentals. Prices for tubular products decreased due to changes in the customer mix.
Average selling prices
US$/tonne (ex works) Q2 2018 Q1 2018 H1 2018 H1 2017 ----------------------- -------- -------- -------- -------- Construction products 808 705 757 609 Flat-rolled products 978 781 886 784 Tubular products 1,200 1,243 1,220 999 ----------------------- -------- -------- -------- --------
In Q3 2018, crude steel output is expected to be slightly higher than in the prior quarter, while tubular product volumes should experience a 10-15% increase in volume, flat-rolled products should climb by 5--10% and construction products should remain strong. Meanwhile, rail output is expected to fall by 5--10% due to annual planned maintenance activities in Q2 2018.
COAL SEGMENT
Production volumes
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / H1 2017,
change change
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
Raw coking coal (mined) 5,422 5,969 -9.2% 11,391 11,651 -2.2%
Yuzhkuzbassugol 2,755 2,720 1.3% 5,475 5,263 4.0%
Raspadskaya 2,430 3,008 -19.2% 5,438 5,957 -8.7%
Mezhegeyugol 237 241 -1.7% 478 431 10.8%
Coking coal concentrate
(production) 3,389 3,631 -6.7% 7,020 6,231 12.7%
Produced at
Yuzhkuzbassugol coal
washing plants 1,725 1,770 -2.5% 3,495 2,982 17.2%
Produced at Raspadskaya
coal washing plant 1,664 1,861 -10.6% 3,525 3,249 8.5%
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
In Q2 2018, production of raw coking coal fell by 9.2% QoQ, primarily due scheduled transition of production at Raspadskaya mine from three to two longwalls. Additional effect was from the temporary longwall shutdown at the Raspadskaya mine in May 2018 to improve production safety at the developed longwall space.
Coking coal concentrate output fell by 6.7% QoQ, which was in line with lower production volumes of mined raw coking coal.
Sales volumes
Product, '000 tonnes Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 H1 2018 / Q1 2017,
change change
------------------------ -------- -------- ------------------------ --------- --------- ------------------------
External sales* 2,885 2,713 6.3% 5,599 4,686 19.5%
Raw coking coal * 484 323 49.8% 807 933 -13.5%
Coking coal
concentrate * 2,401 2,391 0.4% 4,792 3,753 27.7%
Intersegment sales 1,489 1,443 3.2% 2,932 2,884 1.6%
Raw coking coal 514 396 29.8% 910 606 50.0%
Coking coal
concentrate 975 1,047 -6.9% 2,022 2,278 -11.2%
------------------------ -------- -------- ------------------------ --------- --------- ------------------------
* The Q1 2018 data have been updated due to adjustments in the coal classification.
In Q2 2018, external sales volumes of raw coking coal surged by 49.8% due to the completion of a longwall repositioning at the Uskovskaya mine as its coal is in high demand. In addition, better weather conditions positively affected the raw coal shipments, as it may be difficult to unload the rail cars during the winter.
Cash cost, US$/tonne Q2 2018 Q1 2018 Q2 2018 / Q1 2018, H1 2018 H1 2017 Q1 2018 / Q1 2017,
change change
------------------------- -------- -------- ----------------------- --------- --------- ------------------------
Coking coal concentrate 48 45 6.7% 47 42 11.9%
Average selling prices
Q2 2018 Q1 2018 H1 2018 H1 2017
US$/tonne (ex works)
------------------------- -------- -------- -------- --------
Raw coking coal 64 75 70 65
Coking coal concentrate 119 135 127 129
------------------------- -------- -------- -------- --------
In Q2 2018, coking coal sales prices moved in line with global benchmarks.
In Q3 2018, semi-hard coking coal production is expected to increase slightly QoQ after launching a longwall at the Raspadskaya mine.
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. They also include railway products for Ukraine.
###
For further information:
Media Relations:
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Kazakhstan, US, Canada, Czech Republic and Italy. EVRAZ is among the top steel producers in the world based on crude steel production of 14 million tonnes in 2017. A significant portion of the Group's internal consumption of iron ore and coking coal is covered by its mining operations. The Group's consolidated revenues for the year ended 31 December 2017 were US$10,827 million, and consolidated EBITDA amounted to US$2,624 million.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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July 26, 2018 02:01 ET (06:01 GMT)
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