NLMK H1 2011 and Q2 US GAAP results

NLMK, announces its consolidated US GAAP results for Q2 and H1 2011.

NLMK delivered a significantly improved financial and operational performance in Q2 2011, confirming its status as one of the most efficient global steelmakers. Sales revenue rose by 26% to $2.98 billion on the back of larger sales and improved pricing environment. Positive market sentiment and moderate cost increase pushed up NLMK Group’s EBITDA by 43% to $837 million. The EBITDA margin improved 3 p.p. to 28%. Net income grew 50% to $587 million.

Q3 2011 Outlook:
Q3 sales volumes will stay largely flat quarter-on-quarter. At the same time, the share of finished value added products will increase substantially following the consolidation of foreign assets. According to our preliminary estimates, Q3 revenues will grow 10-15%. The EBITDA margin is expected to be in the 20-25% range.

About NLMK:
NLMK is one of the world’s leading producers of steel, with 2010 revenue of $8.4 billion, output over 11.5 million tones. Key production facilities located in Russia, the EU and USA employ around 60,000 people.
The Company produces a wide range of steel products, including slabs and billets, hot