Severstal Russian Steel Q2 revenue was down 0.8%QoQ to USD 2,209 million driven by lower selling volumes. EBITDA, however increased 44.6%QoQ to USD 269 million with EBITDA margin up 3.8 ppts QoQ to 12.2% as a result of lower input costs and the USD 56.7 million one-off non-cash inventory provision taken in Q1.

The share of high value added products in the sales portfolio rose slightly to 43% due to higher sales of value-added products to the domestic market. Q2 supplies of color-coated, galvanized and cold-rolled steel coils altogether went up 11%QoQ reflecting strong demand from domestic consumers. The share of sales to the domestic market increased to 58% in Q2 from 53% in Q1 as a result of seasonally strong demand.

Source - Severstal

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