NLMK Increased Net Profit

The net profit of Novolipetsk Steel under US GAAP edged up 9 percent to $2.247bln in 2007 compared to a year earlier.

Revenue amounted to $7.719bln, which is 28 percent greater than in than in 2006. Meanwhile gross profit surged 26 percent to $3.742bln and operating profit increased 34 percent to $2.998bln. EBITDA rose 28 percent to $3.366bln and EBITDA margin stood at 44 percent in 2007, having shown virtually no change from the previous year.

The company attributes the increase in revenue and net profit to greater sales of high value-added products.