MOSCOW, June 4 (RIA Novosti) - Novolipetsk Steel, one of Russia's largest steel producers, said Wednesday its consolidated net profits calculated to US GAAP for the first quarter of 2008 have grown 35% year-on-year to $617.7 million.
EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) grew by 17%, to $875.7 million.
The company said its earnings increased 34% in the same period to $2.4 billion, year-on-year.
The integrated steel-making company produces pig iron, slabs, hot-rolled, cold-rolled, galvanized, pre-painted, and grain- and non-grain-oriented steel.
Vladimir Lisin, chairman of the board of directors, controls 84.6% of the company's stock.
