20 October 2016

Severstal reported third quarter results

Severstal provided the results of the third quarter. At its enterprises in the specified period, 2.3 million tons of cast iron were produced, 2.9 million tons. Tons of steel. Relative to the previous period, growth was 8 and 6%, respectively. Over the nine-month period of 2016, the company produced 6.9 million tons of pig iron, 8.7 million tons of steel products. These indicators correspond to last year's results. At the same time, the increase in production indicators was not provided by the increase in sales. Consolidated sales of steel products fell by 5%. It amounted to 2.6 million tons. The results were affected by low activity of trailers. Negatively influenced by insufficient demand in the national market. However, the increase in steel production made it possible to replenish stockpiles. The volume of production, falling on the unfinished production, also increased. Increased reserves will help maintain the level of capacity utilization in future repairs. Insufficient domestic demand affected the reduction of supplies to the domestic market. If in the II quarter the indicator reached 64%, now it has fallen to 60%.

Of the available enlarged brands of the range Severstal increased the sales of cold-rolled sheet. The result increased by 5% relative to the previous period. It amounted to 224,000 tons. The implementation of hot-rolled sheet reached 1 million tons, down by 5%. The sale of the thick plate amounted to 147,000 tons, a decrease of 23%. The company produced 156,000 galvanized sheets, having deteriorated by 5%. Sales of products with polymer coating amounted to 108,000 tons, falling by 7%. The sorted prog reached 356,000 tons, down 9%. The hardware showed a decrease of 4%, reaching 167,000 tonnes. The amount of LDP was 96,000 tons, which is lower than the previous results by 16%.

According to the results of the nine-month period, the amount of sold products of Severstal amounted to 6 million tons. Compared to 2015, the result decreased by 6%. Positive dynamics was demonstrated only by long products and hardware. Relative to the same period last year, the growth was 3% and 6%, respectively. At the same time, the company is actively increasing the sale of semi-finished products. In the third quarter, sales volumes reached 189,000 tons, showing an increase of 34%. Over the nine-month period, the number has increased more than 1.5 times to 463,000 tons.

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