MMK TO UNVEIL CONSOLIDATED 2006 U.S. GAAP RESULTS BY END OF MARCH

摘要

MOSCOW. (Interfax) - Magnitogorsk Iron & Steel Works (MMK) will publish its consolidated financial results to U.S. GAAP for the full year 2006 at the end of March, the Russian steel major told Interfax on January 23. MMK will publish financial results to Russian accounting standards by the end of February. MMK had consolidated U.S. GAAP revenue of 5.38 billion dollars, EBITDA - 1.51 billion and net profit -947 million dollars in 2005. MMK is planning an IPO in 2007. The Federal Financial Markets Service (FFMS) last week cleared the company to have up to 25 percent or 3,020,055,400 billion of its shares traded abroad. The FFMS also decided to register an additional share issue and prospectus for the issue, consisting of 1.45 billion new shares.