The leading Russian mining and metals company's revenues grew 4.6% year on year to $3.81 bln in 2005, while net operating profit declined 31.3% to $515.73 mln, and EBITDA slipped 20% to $726.25 mln.
Executive Director Alexei Ivanushkin said: "2005 was a difficult year for Mechel, since higher spending on raw materials and the more complex price situation weighed on our profits. However, we remain faithful to our strategy of expanding our mining segment, to partially compensate for the weakness of the metals segment."
Mechel and its subsidiaries produce coal, iron ore, nickel steel, rolled products, and hardware.
The company has facilities in Russia, Romania and Lithuania. Mechel also owns two trade ports and a railway company.
