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Evraz Group posts lower IFRS net profit for 2005

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MOSCOW, April 27 (RIA Novosti) - Evraz Group (LSE: EVR) said Thursday its net profits calculated to International Financial Reporting Standards declined 23.3% year on year in 2005 to $905.2 million.

Sales grew 9.7% in the reporting period, to $6.51 billion. Operating profit fell 13.7% in 2005 year on year to $1.58 billion, while earnings before interest, taxes, depreciation and amortization (EBITDA) dropped 7.8% to $1.86 billion.

Evraz Group is one of the leading vertically integrated mining and metallurgical companies in Russia. It incorporates three large steel enterprises and some ore mining and coal producing facilities. The company holds more than 20% of the world market of primary vanadium raw materials.

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