MOSCOW, April 26 (RIA Novosti) - Evraz Group [LSE: EVR], Russia's largest steel and mining company, said Thursday its net profit calculated to International Financial Reporting Standards (IFRS) increased 30.4%, year-on-year, in 2006 to $1.18 billion.
Sales grew 27.4% to $8.29 billion and earnings before interest, taxes, depreciation and amortization (EBITDA) increased 42.7% to $2.65 billion.
"Fiscal 2006 was the best year in the history of the Evraz Group. This achievement is completely in line with our long-term strategy," EVRAZ Group Chairman Alexander Frolov said.
According to Frolov, Evraz Group intends to keep steel output in 2007 at the 2006 level of 16 million metric tons and channel $575 million into investment.
