Severstal improves financial results in steel segment thanks to increased sales in Q2

摘要

Thanks to 12% growth of steel product sales, Severstal Russian Steel improved its main financial performance in the second quarter. The positive results are attributed to steady seasonal demand in the Russian market and increased buying activity overseas. The revenue of Severstal Russian Steel increased by 16% from Q1, EBITDA – by 52%. The latter indicator grew to such a substantial measure thanks to reduced costs, resulting from decrease in raw material prices. Another positive factor was a 4% increase in average selling price for steel product.