- Home
- Media
- Press releases
- Q1 2012 NLMK Group Consolidated Financial Results under US GAAP
17 May 2012
Q1 2012 NLMK Group Consolidated Financial Results under US GAAP
NLMK, the LSE-listed leading steel producer, today announces its consolidated US GAAP results for Q1 2012. In Q1, average steel product sales prices softened 5% q-o-q driven by the negative market sentiment in the previous quarter. As a result, the Group’s revenue increased marginally to US$3.1 billion (+1.3% q-o-q), driven by the 9% growth in sales (to 3.9 mt). Despite the seasonal slowdown in demand in Q1, EBITDA increased 17% to US$432 million as a result of reduced costs and improved sales efficiency. The EBITDA margin grew 2 p.p. to 14%. Our long products and foreign rolling assets posted significant performance improvements. The Company’s net profit increased by 13% q-o-q and totaled US$173 million. Net debt was US$3.5 billion (+5% q-o-q). Higher profitability and working capital optimization resulted in a higher cash flow from operations, which was up 57% q-o-q and totaled US$502 million. OUTLOOK In Q2, we expect revenue growth of 10% based on continued increase in sales. We expect an EBITDA margin of approximately 17%-19%. Conference call details NLMK is pleased to invite the investment community to a conference call with the management of NLMK: Thursday, May 17, 2012 09:00 (New York) 14:00 (London) 17:00 (Moscow) To join the conference call, please, register on-line: https://eventreg1.conferencing.com/webportal3/reg.html?Acc=682729&Conf=183714 or dial International Call-in Number: +44 (0)20 7162 0025 US Call-in Number: +1 334 323 6201 Conference ID: 917041 *We recommend that participants register on-line to avoid waiting in a queue or to start dialing in 5-10 minutes prior to ensure a timely start to the conference call. It is recommended that participants download presentation in advance on NLMK’s web-site www.nlmk.com.
Additional Materials
Subscribe for updates
You must accept the terms of this Privacy Policy.