MOSCOW, April 2 (RIA Novosti) - Severstal [RTS: CHMF] said Monday its net profit, calculated to International Financial Reporting Standards (IFRS), declined 30.4%, year-on-year, in 2006, to $1.18 billion.
Russia's second-largest steel producer said its sales increased 19.1% in the reporting period, to $12.42 billion, while operating income fell 15.8%, year-on-year, to $1.95 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) went up 4.7%, to $2.98 billion, Severstal said in a statement.
Severstal said earlier Monday its net profit, calculated to Russian Accounting Standards (RAS), grew 2.3%, year-on-year, in 2006, to 35.93 billion rubles (about $1.35 billion).
Severstal expanded steel output by 2.3% year on year in 2006 to 11 million metric tons.
