December 02, 2008

NLMK expects 15% to 20% EBITDA growth in 2007

Interfax reported that Novolipetsk Steel expects its EBITDA to grow by 15% to 20% in 2007. NLMK in a statement said that it forecast that consolidated sales revenue would increase this year compared with 2006.

NLMK’s EBITDA in 2006 was USD 2.63 billion and revenue was USD 6.046 billion. However its sales revenue grew by 41.98 % YoY to USD 3.609 billion in the H1 of 2007 and EBITDA rose by 59% to USD 1.57 billion.

NLMK group includes the core production facility Novolipetsk Steel, Denmark's DanSteel A/S, iron ore producer Stoilensky GOK, coke producer Altai-Koks and transformer steel producer VIZ-Stal.

NLMK's principal beneficiary is Mr Vladimir Lisin board chairman with 83.16% of shares; management holds 3.85% of shares and about 13% of shares are in free float, including 8.3% traded as GDR on the London Stock Exchange.