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Severstal Reports Net Loss of $660 Million Incl Disposal Loss in 1st Half
= It sold steel and coal companies in the USA =
According to the consolidated financial results of Severstal, a Russian major steel company concurrently operating ironmaking resource business, for the 1st half of the year, it reported a net loss of $661 million in which a preliminary estimated loss at $1,066 million on the disposals of the steel businesses (the Dearborn Works and Columbus Works) and the coal business in the USA and a foreign exchange gain of $199 million were included. Excluding above non-cash items, the company would have recorded a net profit of $206 million.

Meantime, its crude steel production in the 1st half year was 8,080 thousand tons, up 214 thousand tons or 2.7% from the same period last year. And, its sales quantity of iron ore pellets was 5,138 thousand tons (average sales price at $111), and that of conc. was 2,273 thousand tons (that at $80).
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last modified : Wed 06 Aug, 2014 [10:59]
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