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Mechel 1st Half Net Profit Rises Four-Fold To $501.0 Million

MOSCOW -(Dow Jones)- Russian coal and steel group OAO Mechel (MTL) Tuesday said its first-half net profit was up more than four-fold on the year as the company increased volumes of coal mining and concentrate production, while cutting down on mining costs in most of its assets. Mechel, however, said the situation in the steel market was not so favorable in the second quarter. "We had to deal with growing prices for raw materials, which were not compensated by the growth of steel prices", the company said. MAIN FACTS: -net profit at $501.0 million, up from $120.8 million a year earlier. -revenue at $6.41 billion, up 58% from $4.33 million a year earlier. -Adjusted Earnings before interest, tax, depreciation and amortization, or Ebitda, at $1.18 billion, up 50% from $786.1 million a year earlier. -Adjusted Ebitda margin at 18.40%, up from 18.15% in the first half of 2010. -net debt at $8.6 billion as of end-March, up from $7.9 billion as of end of the first quarter. -By Alexander Kolyandr, Dow Jones Newswires; +7 495 232 9196; [email protected]

Stock News for Mechel Oao (MTL)
DateTimeHeadline
03/21/201709:07:28Report of Foreign Issuer (6-k)
03/21/201709:00:00Mechel Launches New Mining Equipment at Neryungrinsky Open Pit
03/16/201709:09:08Report of Foreign Issuer (6-k)
03/16/201709:00:00Mechel’s Rolling Mill at Chelyabinsk Wins Best Import Substitution P...
03/13/201707:05:07Report of Foreign Issuer (6-k)
03/13/201707:00:00Mechel Reports Launch of New Longwall at Southern Kuzbass
03/09/201707:52:27Report of Foreign Issuer (6-k)
03/09/201707:30:00Yakutugol Launches Open Mining at Dzhebariki-Khaya
02/13/201709:25:01Report of Foreign Issuer (6-k)
02/13/201708:30:00Mechel Reports 2016 Operational Results
12/27/201607:03:17Report of Foreign Issuer (6-k)
12/21/201608:07:53Report of Foreign Issuer (6-k)
12/21/201608:00:00Mechel Increases Exports of Elga Coal
11/29/201609:37:08Report of Foreign Issuer (6-k)
11/29/201609:18:24Report of Foreign Issuer (6-k)
11/29/201604:30:00Mechel Reports 9M2016 Operational Results
11/29/201604:00:00Mechel Reports the 9M 2016 Financial Results
11/25/201606:48:14Report of Foreign Issuer (6-k)
11/25/201603:15:00Mechel Announces 2016 Nine Months Financial Results Conference...
11/14/201606:10:51Report of Foreign Issuer (6-k)

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