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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; alexander.kolyandr@dowjones.com

Stock News for Mechel Oao (MTL)
DateTimeHeadline
09/22/201418:39:55ADR Shares End Lower; Mechel Shares Trade Actively
03/03/201403:22:53Gazprom, Industrials Plunge In Micex Rout -- Market Talk
12/03/201316:58:24ADR Shares End Lower As Investors Eye Friday Jobs Report
11/18/201313:10:43Mechel Agrees With Main Lenders on Easing Debt
11/18/201312:53:23Mechel Agrees With Main Lenders on Easing Debt - Sources
11/14/201308:53:10Sberbank CEO: Mechel Debt-Restructuring Process Proceeding Normally...
04/30/201308:50:42Mechel Signs 3-Year Coal Deal With Korea's POSCO
04/29/201317:05:41ADR Shares Rise on Gains for Mining, Energy Stocks
04/17/201310:54:23Mechel Resumes Work at Some Idled West Virginia Mines
03/04/201317:20:53ADR Shares Close Mixed; Property, Mining Stocks Slump After China...
02/20/201317:13:37ADR Shares End Lower; Gold Mining Companies Hit Hard
01/11/201318:12:09ADR Shares End Mixed; Metals, Mining Stocks Fall on China Inflation...
12/10/201217:22:36ADR Report: Shares End Slightly Higher, Boosted by Mining Stocks
10/15/201206:12:33Mechel Secures $775 Million Credit for Russian Mine
08/27/201217:15:27ADR Report: Shares End Lower; Steelmakers Slump
06/20/201217:32:20ADR Report: Shares End Higher on Central Bank Support
05/02/201217:19:50ADR Report: Shares Lower As Euro Zone Worries Grow
03/29/201217:23:17ADR Report: Shares Drop On Weakness In Overseas Markets
03/05/201217:26:20ADR Report: Shares Lower As China Cuts Growth Target
12/28/201110:48:23Evraz Secures $610 Million Loan Amid Volatile Market Conditions

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