The company based in Lipetsk, 438 km southeast of Moscow, earlier said its net profit calculated to Russian Accounting Standards (RAS) climbed 120% year-on-year in the first half of 2008 to 44.32 bln rubles ($1.8 bln). Its RAS revenue rose 31% year-on-year in January-June to 97.55 billion rubles ($4.2 bln).
The company plans to increase its consolidated revenue 70% year-on-year in 2008, while its EBITDA is expected to rise 60% against 2007.
The manufacturer plans to produce 9.4 million metric tons of steel at its major production site in Lipetsk in 2008, up 4% against 2007. Total steel output is expected to reach 11.6 million metric tons in 2008, up 26% against last 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 company's board of directors, owns 84.6% of Novolipetsk Steel's stock.
