AK&M reported that Fitch Ratings confirmed the long term default rating of Evraz Group SA at ?B unsecured priority rating BB at the steady outlook as it was informed.
This confirmation was provided after the acquisition of 41% in Raspadskaya through the purchase of 50% in Corber Enterprises Limited. Thus Evraz plc will be a major holder of Raspadskaya keeping 82%.
Evraz Group SA is the largest vertically integrated metallurgic and mining company. It involves three leading steel making entities and Evraz Palini e Bertoli Evraz Vitkovice Steel Czechia Evraz Inc. NA ore assets in Ukraine Highveld Steel and Vanadium Corporation.
The H1 2011 net profit rallied up 49.4% to USD 263 million from USD 176 million prior year revenues rose 31.4% to USD 8.380 billion from USD 6.379 billion prior year operating profit 24.3% to USD 859 million from USD 691 million gross profit 50.5% to USD 2.197 billion from USD 1.460 billion pretax profit being up 1.5 fold to USD 473 million from USD 307 million prior year period consolidated EBITDA increased 41.2% to USD 1.629 billion from USD 1.154 billion last year EBITDA margin coming to 9.9 USD vs. 13.9% last year.
The total debts on June 30, 2010, were fixed to come to USD 7.198 billion against USD 7.811 billion December 31st 2010. The available assets in money terms being at the Company's disposal gained USD 1.155 billion vs. USD 683 million December 31st 2010.
Source - AK&M
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