TIDMEVR
RNS Number : 4714C
Evraz Plc
19 January 2015
EVRAZ Q4 2014 and FY 2014 PRODUCTION REPORT
19 January 2015 - EVRAZ plc (LSE: EVR) today releases its
operational results for the fourth quarter of 2014 and the full
year of 2014.
FY 2014 OPERATIONAL HIGHLIGHTS:
-- Consolidated crude steel production and output of steel
products, net of rerolled volumes, decreased by 4% and 5%
respectively, mostly as a result of the disposal in April 2014 of
EVRAZ Vitkovice Steel in the Czech Republic and the shutdown of
EVRAZ Claymont operations in the USA at the end of 2013 as part of
the group wide optimisation plan
-- The share of semi-finished products in our shipments
increased to 31% from 26% in 2013 as a result of a shift in sales
from Russia to export destinations driven partially by a weakening
rouble, and by a reduction in intercompany supply of slabs for
further re-rolling at EVRAZ's rolling mills in Europe and at EVRAZ
Claymont due to disposal, shutdown, or suspension of such mills
-- EVRAZ ZSMK successfully implemented the pulverised coal
injection (PCI) project leading to a sustainable reduction of
operating costs
-- The EVRAZ Caspian Steel rolling mill in Kazakhstan was
commissioned and began mass production of rebars from EVRAZ ZSMK's
billets
-- Stable production volumes of saleable iron ore products in
Russia (on a comparable basis, excluding volumes from disposed
EVRAZ VGOK)
-- Coking coal production grew by 11% due to increased output of
31% at the Raspadskaya coal company. This represents a return to
pre-accident levels of annualised production of over 10 million
tonnes of coking coal
-- Prices for steel products and their keyraw material inputs
were negatively affected by continuing headwinds in the global
markets and depreciation of local currencies in Russia and
Ukraine
Q4 2014 vs Q3 2014 OPERATIONAL HIGHLIGHTS:
-- Consolidated crude steel output stable at 3.9 million tonnes per quarter
-- Production of steel products, net of re-rolled volumes,
increased by 6%, mostly driven by a 31% increase in production of
semi-finished products due to higher shipments of more profitable
export billets and slabs
-- The share of finished steel products within consolidated
volumes decreased to 63% in Q4 2014 vs. 69% in Q3 2014 due to
higher exports of semi-finished products and weaker demand for
construction products and railway products in Russia
-- Production of tubular products in North America increased by
6%, mostly driven by strong market demand for large diameter pipe
and operational improvements at our OCTG facilities
-- Consolidated raw coking coal output and production of coking
coal concentrate increased by 12% and 8% respectively due to strong
performance of the Raspadskaya coal company
STEEL
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Coke (saleable) 1,137 1,380 -17.6% 304 305 -0.4%
Pig iron 12,373 12,553 -1.4% 3,143 3,107 1.2%
Pig iron (saleable) 362 341 6.3% 133 67 99.5%
Crude steel 15,535 16,121 -3.6% 3,884 3,859 0.6%
Steel products, gross 15,098 15,982 -5.5% 3,850 3,655 5.4%
Steel products, net of
re-rolled volumes 13,949 14,683 -5.0% 3,613 3,414 5.9%
Semi-finished products ** 4,314 3,843 12.3% 1,327 1,066 24.5%
Finished products 9,635 10,840 -11.1% 2,286 2,348 -2.6%
Construction products 5,105 5,186 -1.6% 1,250 1,302 -4.0%
Railway products 1,830 1,903 -3.8% 377 410 -8.1%
Flat-rolled products 1,017 1,989 -48.9% 224 221 1.1%
Tubular products 1,065 936 13.7% 279 263 6.4%
Other steel products 618 825 -25.1% 156 152 2.9%
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Note. Numbers in this table and the tables below may not add to
totals due to rounding.
* Gross volume of steel products in the tables includes those
re-rolled at other EVRAZ's mills. However, such volumes are
eliminated as intercompany sales for purposes of EVRAZ's
consolidated operating results.
** Consolidated production volumes of semi-finished products are
preliminary as intra-group re-rolling volumes are yet to be
finalised.
RUSSIA
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Coke (saleable) 402 592 -32.0% 111 94 17.9%
Pig iron 10,706 10,936 -2.1% 2,729 2,695 1.3%
Pig iron (saleable) 297 303 -2.0% 87 61 41.2%
Crude steel 11,798 11,904 -0.9% 2,979 2,948 1.0%
Steel products, gross 11,052 11,056 0.0% 2,891 2,676 8.0%
Steel products, net of
re-rolled volumes 10,795 10,799 0.0% 2,815 2,669 5.5%
Semi-finished products 4,787 4,517 6.0% 1,406 1,201 17.1%
Finished products 6,009 6,282 -4.3% 1,409 1,469 -4.0%
Construction products 4,187 4,185 0.0% 1,033 1,052 -1.9%
Railway products 1,292 1,409 -8.3% 237 283 -16.3%
Other steel products 529 687 -23.0% 139 133 5.0%
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
* In Q4 2014 includes 65kt produced by EVRAZ Caspian Steel mill
(former "Eastern mill") in Kazakhstan from EVRAZ ZSMK's billets
In July 2014, EVRAZ ZSMK successfully completed the pulverised
coal injection (PCI) project, a follow-on project to the
implementation of the PCI technology at EVRAZ NTMK in 2013. PCI
ensures substantial cost savings in natural gas and coke
consumption. One of the coking plants at EVRAZ ZSMK was mothballed,
resulting in a 32% decrease of saleable coke production
year-on-year. The 18% growth in saleable coke production
quarter-on-quarter was due to lower internal requirement following
the PCI launch.
In 2014, crude steel production and production of steel products
by EVRAZ's Russian steel mills were largely unchanged vs. 2013.
Production of semi-finished products increased by 6% while
production of finished steel products declined by 4%, due to higher
export sales driven by a weakening Russian rouble during the second
half of 2014, as well as the shutdown of the unprofitable plate
rolling mill and Mill 450 at EVRAZ ZSMK (in Q2 2013 and Q3 2014
respectively).
Despite the increased competition in the domestic market,
production of construction products remained at 2013 levels
supported by strong demand in the peak months of the construction
season and by lower imports from Ukraine.
Production of railway products was down 8% year-on-year as a
result of lower orders for solid wheels and railcar sections from
railcar producers and railcar repair shops.
In Q4 2014, crude steel output rose slightly by 1% compared to
Q3 2014, which was then affected by unscheduled maintenance works
(change of the obsolete charging device) at one of the EVRAZ ZSMK
blast furnaces. Production of steel products, net of re-rolled
volumes, increased by 6% compared to the previous quarter.
Production of semi-finished goods surged by 17% compared to Q3
2014 due to volumes from the Russian market being re-directed to
export destinations as a result of a weakening rouble, and also due
to to the successful implementation of a billet inventory
optimisation programme at EVRAZ NTMK.
Production of finished steel products declined by 4% compared to
the previous quarter, including:
- 2% decrease in construction products due to low demand at the end of the construction season;
- 16% reduction in railway products due to softer demand for
railway wheels and railcar sections and fastenings.
Prices for semi-finished goods were in line with global prices.
Prices for finished products sold primarily in the Russian market
fell year-on-year and quarter-on-quarter in US dollar terms as
domestic steel prices failed to adjust to the sharp depreciation of
the Russian rouble versus the US dollar, particularly in Q4
2014.
Production of steel and total steel products is expected to
increase in Q1 2015 compared to Q4 2014, mostly due to improved
steel production at the EVRAZ ZSMK rail mill's steel shop and the
absence of major repairs at other production facilities. Prices in
the Russian market are expected to grow thus catching up with the
export parity.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
-------------------------- ----- ----- -------- --------
Coke 118 160 92 118
Pig iron 293 301 261 309
Steel products
Semi-finished products 410 401 392 417
Construction products 574 649 484 587
Railway products 747 852 613 747
Other steel products 580 641 517 606
-------------------------- ----- ----- -------- --------
NORTH AMERICA
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
--------------------------------- ------ ------ ------------------ -------- -------- -------------------------
Crude steel 1,999 2,191 -8.8% 528 500 5.7%
Steel products, net of re-rolled
volumes 2,548 2,769 -8.0% 639 649 -1.6%
Construction products 324 348 -7.0% 70 90 -22.3%
Railway products 537 493 8.9% 140 127 10.2%
Flat-rolled products 621 992 -37.3% 150 170 -11.7%
Tubular products 1,065 936 13.7% 279 263 6.4%
--------------------------------- ------ ------ ------------------ -------- -------- -------------------------
* Q4 2014 and FY 2014 production volumes are preliminary
In 2014, crude steel and steel products output decreased by 9%
due to shutdown of the EVRAZ Claymont operations in Q4 2013.
Excluding EVRAZ Claymont, the production of both crude steel and of
steel products increased - by 3% and 4% respecively (see Attachment
1).
Rail production was up 9% year-on-year and achieved a new record
high due to the completion of the rail mill upgrade project.
Production of flat-rolled products was 37% lower than in 2013,
mostly as a result of EVRAZ Claymont's shutdown.
Production of tubular products increased by 14% year-on-year
driven by strong market demand for small diameter pipe and
operational improvements implemented at EVRAZ North America's OCTG
facilities. Large diameter market showed another strong year in
2014 (+2.5% year-on-year in production volumes).
In Q4 2014, crude steel output grew by 6% vs. the previous
quarter supported by the strong order book for tubular
products.
An unplanned outage to repair a cooling water main in our Pueblo
melt shop resulted in a 2% decrease in production of steel products
quarter-on-quarter. The outage translated into limited availability
of steel for the wire rod mill.
Production of flat-rolled products at EVRAZ Portland declined by
12% quarter-on-quarter as a result of record levels of plate
imports negatively impacting orders.
Production of tubular goods grew by 6% compared with Q3 2014,
mostly driven by a seasonal pick-up in demand for OCTG.
The positive market trend for LD pipe is expected to continue
into 2015.
OCTG demand will face significant headwinds during 2015 as a
result of the rapid declines in oil prices. We are following demand
trends very closely to adequately match production output and capex
to prevailing market trends.
Robust plate market fundamentals secure our production volumes
in Q1 2015 despite elevated imports levels during the first quarter
of 2015.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
----------------------- ------ ------ -------- --------
Construction products 791 765 768 794
Flat-rolled products 955 858 935 987
Tubular products 1,333 1,350 1,338 1,370
----------------------- ------ ------ -------- --------
UKRAINE
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
-------------------------- ------ ----- ------------------ -------- -------- -------------------------
Coke (saleable) 734 788 -6.8% 193 211 -8.6%
Pig iron 1,001 978 2.4% 246 258 -4.6%
Pig iron (saleable) 65 38 73.2% 47 5 762.4%
Crude steel 986 995 -1.0% 217 269 -19.6%
Steel products 840 854 -1.6% 189 218 -13.2%
Semi-finished products 398 359 10.7% 80 94 -14.6%
Finished products 442 494 -10.5% 109 124 -12.2%
Construction products 378 407 -7.1% 97 110 -12.3%
Other steel products 65 87 -26.2% 12 14 -11.4%
-------------------------- ------ ----- ------------------ -------- -------- -------------------------
In 2014, the year-on-year production of crude steel and of steel
products by the EVRAZ DMZ steel mill remained broadly unchanged,
despite limitations on use of electricity in the country in Q4
2014.
Production of finished products decreased by 11% year-on-year as
a result of lower demand for finished products, in particular
sections, both in the Ukrainian market (the largest end-user is
located in the Donetsk region) and in Russia and in the Middle
East. Consequently, production of semi-finished products grew by
11% vs. 2013, also supported by the weakening Ukrainian hryvnia and
by strong demand for export billets as a result of lower supply by
Ukrainian steel producers.
In Q4 2014, DMZ had to scale back production of crude steel
(-20% vs. Q3 2014) selling more pig iron in the market due to
restrictions on electricity consumption. As a result of reduced
steel availability, production of steel products decreased by
13%.
In Q1 2015, pig iron and crude steel production is expected to
stabilise, subject to electricity and gas availability.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
-------------------------- ----- ----- -------- --------
Coke (saleable) 173 213 190 167
Pig iron 315 356 308 330
Steel products
Semi-finished products 444 465 402 462
Construction products 558 600 512 570
Other steel products 848 878 758 901
-------------------------- ----- ----- -------- --------
EUROPE
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
----------------------------------- ----- ----- ------------------ -------- -------- -------------------------
Crude steel 131 388 -66.3% 0 0 n/a
Steel products, gross 129 801 -83.9% 0 0 n/a
Steel products, net of re-rolled
volumes 129 792 -83.7% 0 0 n/a
Construction products 22 80 -73.1% 0 0 n/a
Flat-rolled products 103 693 -85.1% 0 0 n/a
Other steel products 5 19 -75.9% 0 0 n/a
----------------------------------- ----- ----- ------------------ -------- -------- -------------------------
EVRAZ Vitkovice Steel in the Czech Republic was disposed of in
April 2014.
Operations at EVRAZ Palini e Bertoli in Italy have remained
suspended due to market conditions since August 2013.
SOUTH AFRICA
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
-------------------------- ----- ----- ------------------ -------- -------- -------------------------
Pig iron 666 639 4.2% 168 154 9.0%
Crude steel 621 642 -3.3% 160 141 13.2%
Steel products 529 502 5.4% 131 111 18.1%
Semi-finished products 22 0 n/a 2 5 -59.3%
Finished products 507 502 1.0% 129 106 22.1%
Construction products 194 166 17.2% 51 50 3.3%
Flat-rolled products 293 305 -4.0% 73 51 44.1%
Other steel products 20 31 -35.8% 5 5 -13.6%
-------------------------- ----- ----- ------------------ -------- -------- -------------------------
In 2014, crude steel production decreased by 3% due to
operational challenges and unplanned maintenance. Production of
steel products was up by 5%. Production of construction products,
in particular, extended by 17% on the back of improved domestic
demand compared to 2013.
In Q4 2014, the output of crude steel and steel products
increased by 13% and 18% respectively vs. Q3 2014 due to
operational improvements of hot metal and steel making production
and improved ore quality.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
-------------------------- ----- ----- -------- --------
Semi-finished products 422 436 415 413
Construction products 678 717 693 694
Flat-rolled products 621 689 602 619
Other steel products 510 660 485 474
-------------------------- ----- ----- -------- --------
IRON ORE
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
-------------------------- ------- ------- ------------------ -------- -------- -------------------------
Sinter (Russia) 11,134 12,083 -7.9% 2,673 2,744 -2.6%
Pellets (Russia) 6,444 6,301 2.3% 1,660 1,636 1.4%
Lumpy ore (Ukraine) 2,889 2,973 -2.8% 735 705 4.3%
Fines ore (South Africa) 721 651 10.7% 196 190 3.6%
Lumpy ore (South Africa) 1,585 1,431 10.7% 411 474 -13.3%
-------------------------- ------- ------- ------------------ -------- -------- -------------------------
In 2014, production of iron ore products (sinter plus pellets)
in Russia decreased by 4% compared to 2013 as a result of the
disposals and shutdowns of unprofitable iron ore assets in 2013,
EVRAZ VGOK in particular. Excluding VGOK, production of iron ore
products in general, and of sinter made from own concentrate in
particular, was flat year-on-year (see Attachment 2).
In Q4 2014 total production of iron ore products in Russia was
flat quarter-on-quarter (4,332 kt vs 4,381 kt). The decline in
production of sinter due to maintenance works at one of EVRAZ
ZSMK's sintering machines was partially offset by increased
production of both pellets and sinter by EVRAZ KGOK after
completion of maintenance works at its sintering facilities in Q3
2014. The share of EVRAZ's own concentrate used in production of
sinter rose to 79% compared to 75% in Q3 2014 due to higher primary
concentrate production at Evrazruda's mines.
Production of lumpy ore in Ukraine went down by 3% year-on-year
due to lower quality of ore (lower Fe content) at the depleting
section of the Yubileynaya mine. It increased by 4%
quarter-on-quarter after maintenance works at the mine were
completed in Q3.
Production of iron ore at the Mapochs mine in South Africa in Q4
2014 decreased compared to the previous quarter due to run-out of
the run-of-mine ore. On a yearly comparison, production has
improved due to better productivity of the crushing facilities of
the mine after repairs performed in January-February 2014.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
---------------------------- ----- ----- -------- --------
Sinter (Russia) 57 76 34 52
Pellets (Russia) 69 86 45 64
Lumpy ore (Ukraine) 52 66 36 46
Fines ore (South Africa) 27 23 39 41
---------------------------- ----- ----- -------- --------
COAL
Product, '000 tonnes 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Raw coking coal (mined) 21,062 18,933 11.2% 5,972 5,329 12.1%
Yuzhkuzbassugol 10,789 11,110 -2.9% 2,585 2,870 -10.0%
Raspadskaya 10,223 7,824 30.7% 3,337 2,459 35.7%
Mezhegeyugol 51 0 n/a 51 0 n/a
Coking coal concentrate
(production) 13,936 13,664 2.0% 3,770 3,496 7.8%
Produced at Yuzhkuzbassugol
coal washing plants 6,042 5,821 3.8% 1,544 1,543 0.1%
Produced at EVRAZ ZSMK coal
washing plant 1,977 2,591 -23.7% 420 469 -10.6%
Produced at Raspadskaya
coal washing plant 5,916 5,252 12.7% 1,806 1,483 21.8%
Raw steam coal (mined) 757 1,432 -47.1% 0 0 n/a
Steam coal concentrate
(production) 33 99 -67.1% 0 5 n/a
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Coking coal
In 2014, production of raw coking coal by EVRAZ increased by 11%
compared to 2013 as a result of significant growth in production by
the Raspadskaya coal company (+31%) as a consequence of the
successful implementation of the Raspadskaya underground mine's
restoration programme. Consequently, total production of coking
coal concentrate by EVRAZ's coal washing plants went up by 2%:
coking coal concentrate production by Raspadskaya increased by 13%
year-on-year and by Yuzhkuzbassugol - by 4%.
Production of coking coal concentrate by EVRAZ ZSMK coal washing
plant declined by 24% year-on-year due to lower requirements for
coke after introduction of the PCI technology at EVRAZ ZSMK
resulting in mothballing of one of its coking plants.
In Q4 2014, production of raw coking coal by EVRAZ rose by 12%
vs. Q3 2014 due to a 36% increase in volumes of raw coal mined by
the Raspadskaya coal company which has operated in four longwalls
since November 2014.
In Q4 2014, Yuzhkuzbassugol decreased production of coking coal
by 10% compared to Q3 2014, as longwall moves at the Osinnikovskaya
and Alardinskaya mines were carried out.
Share of own raw coal used in total concentrate production by
EVRAZ increased to 95% in 2014 from 93% in 2013.
The blended average selling price of coking coal concentrate in
dollar terms went down due to the weakening of the Russian
rouble.
Steam coal
In 2014, in line with the strategic decision to stop non-core
steam coal production, the Kusheyakovskaya mine, the only remaining
steam coal mine within EVRAZ's Russian coal assets, terminated
production and began the mine's conservation, with steam coal
concentrate being used for internal consumption by the coal washing
plant.
Average selling prices
USD/tonne (ex works) 2014 2013 Q4 2014 Q3 2014
-------------------------------- -------- ------- -------- --------
Raw coking coal 46 58 37 44
Coking coal concentrate 70 87 57 70
--------------------------------- ------- ------- -------- --------
VANADIUM
Product, tonnes of V* 2014 2013 2014/2013, change Q4 2014 Q3 2014 Q4 2014/ Q3 2014, change
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
Vanadium in slag (gross
production) 22,252 21,077 5.6% 6,048 5,799 4.3%
Russia 15,125 14,403 5.0% 4,018 4,034 -0.4%
South Africa 7,127 6,675 6.8% 2,031 1,765 15.1%
Vanadium in final products n/a n/a
(saleable)
Ferrovanadium 14,076 13,975 0.7% 3,343 3,277 2.0%
Produced at own
facilities 7,512 7,465 0.6% 1,718 1,768 -2.8%
Processed at 3rd parties'
facilities 6,565 6,510 0.8% 1,624 1,509 7.6%
Nitrovan(R) 2,463 2,294 7.3% 602 515 17.0%
Oxides, vanadium aluminium and
chemicals 1,822 1,652 10.3% 547 467 17.0%
------------------------------- ------- ------- ------------------ -------- -------- -------------------------
(*) Calculated in pure vanadium equivalent
In 2014, Vanadium slag production increased by 6% compared to
2013 both due to higher slag volumes in Russia (+5%, due to
improved Vanadium slag yields and use of the duplex process at the
EVRAZ NTMK steel making facilities ) and South Africa (+7%).
Production of ferrovanadium remained broadly unchanged supported
by strong demand in Russia, including EVRAZ plants, and in other
CIS countries. Nitrovan production was up by 7% year-on-year due to
enhanced production process at EVRAZ Vametco in South Africa and
absence of labour actions as experienced in 2013.
In 2014, production of oxides, vanadium aluminum and chemicals
grew by 10% vs. 2013 due to higher oxide extraction yields and
stable feedstock availability.
The quarter-on-quarter production of vanadium slag went up by
4%, due to increased production in South Africa as a result of
higher iron output and improved vanadium content in iron.
In Q4 2014, production of ferrovanadium grew by 2% vs. Q3 2014,
mostly thanks to higher (+8%) volumes processed at third parties'
facilities due to increased production at Treibacher as a result of
better EVRAZ Highveld vanadium slag availability, supported by
healthy demand and improved extraction ratios, and due to increased
shipments of V slag toHochvanadium from EVRAZ Highveld in Q4
2014.
The Q4 2014 production volumes of Nitrovan were 17% higher than
in the previous quarter as a result of production of Nitrovan by
Vametco in South Africa being negatively affected by the scheduled
annual shutdown of the plant in September 2014.
Production of oxides, vanadium aluminum and chemicals increased
by 17% vs. Q3 2014 thanks to successful implementation of capital
projects and production debottlenecking at EVRAZ Stratcor.
Despite growing demand for vanadium in the world, deteriorating
steel fundamentals in China led to higher exports of vanadium
products, which ultimately drove Metal Bulletin Ferrovanadium index
down to $24.10/kg V in December 2014. In 2014, Metal Bulletin
Ferrovanadium index average resulted in $25.53/kg V vs. $27.73/kg V
in 2013 (-7.9% y-o-y). This had an adverse effect on Ferrovanadium
and Nitrovan prices that were experiencing downward trends through
2014 vs. 2013.
Prices of oxides, vanadium aluminum and chemicals advanced
quarter-on-quarter due to increased sales volumes of liquid
chemicals and vanadium aluminum products. The year-on-year decrease
in the selling price was due to the sales mix which included
commodity oxide sales which were negatively impacted by the Metal
Bulletin Oxide index movement.
Average selling prices
USD/tonne of V (ex works) 2014 2013 Q4 2014 Q3 2014
------------------------------------------ ------- ------- -------- --------
Ferrovanadium 25,049 26,581 24,387 24,933
Nitrovan(R) 27,244 28,945 26,360 27,182
Oxides, vanadium aluminium and chemicals 31,725 34,295 31,055 30,505
------------------------------------------ ------- ------- -------- --------
Notes:
Semi-finished products include slabs, billets, pipe blanks and
other semi-finished products.
Construction products include beams, channels, angles, rebars,
wire rods, wire, and other construction products.
Railway products include rails, wheels, tyres and other railway
products.
Flat-rolled products include commodity plate, specialty plate
and other flat products.
Tubular products include large diameter line pipes, ERW pipes
and casings, seamless pipes and other tubular products.
Other steel products include rounds, grinding balls, mine
uprights, strips etc. For Ukraine they also include railway
products, for Europe - slabs and cut shapes; for South Africa -
rails.
###
For further information:
Media Relations:
Vsevolod Sementsov
VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine,
Kazakhstan, USA, Canada, Czech Republic, Italy and South Africa.
EVRAZ is among the top steel producers in the world based on crude
steel production of 16.1 million tonnes in 2013. A significant
portion of the company's internal consumption of iron ore and
coking coal is covered by its mining operations. The company's
consolidated revenues for the year ended 31 December 2013 were
US$14,411 million, and consolidated EBITDA amounted to US$1,821
million. The company's consolidated revenues for the six months
ended 30 June 2014 were US$6,805 million, and consolidated EBITDA
amounted to US$1,080 million.
Attachment 1
Production of steel by EVRAZ North America, excluding EVRAZ Claymont
Product, '000 tonnes 2014 2013 2014/2013, change
------------------------------------------ ------ ------ ------------------
Crude steel 1,999 1,940 3.1%
Steel products, net of re-rolled volumes 2,548 2,443 4.3%
Construction products 324 348 -7.0%
Railway products 537 493 8.9%
Flat-rolled products 621 665 -6.6%
Tubular products 1,065 936 13.8%
------------------------------------------ ------ ------ ------------------
Attachment 2
Production of iron ore products in Russia, excluding EVRAZ VGOK
(sold in October 2013)
Product, '000 tonnes 2014 2013 2014/2013, change
----------------------------- -------- -------- --------------------
Sinter 11,134 11,224 -0.8%
Pellets 6,444 6,301 2.3%
Total iron ore products 17,578 17,524 0.3%
----------------------------- -------- -------- --------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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