Alchevsk Steelworks has reported upbeat financials for Q1 2011 bringing EBITDA back to the positive territory at UAH 199 million. Sales jumped 2x as volumes recovered and prices increased while costs trailed resulting in solid margin expansion.

There still was a loss at the bottom line but it came at just a quarter of what we expected.

According to Millennium Capital analyst “The news is positive for ALMK UK as the earnings recovery at the company made progress ahead of our expectations. Hopefully, ALMK will run at a full steam by the end of the year taking advantage of the favorable pricing environment driven by strong demand for steel in Asia.”

(Sourced from www.mcapital.com.ua)