PAO Severstal announced consolidated earnings and production results for the quarter and first half ended June 30, 2018. For the quarter, the company reported revenue of $2,259 million. EBITDA was $874 million. Profit from operations was $766 million. Free cash flow was $598 million. Net profit was $557 million. Basic earnings per share were $0.68 per share. Cash CAPEX was $160 million. Net debt was $153 million reflecting cash balances growth on the back of free cash flow generation for second quarter 2018.

For the first half, the company reported revenue of $4,432 million against $3,698 million for the same period a year ago. EBITDA was $1,580 million against $1,207 million for the same period a year ago. Profit from operations was $1,351 million against $1,004 million for the same period a year ago. Free cash flow was $887 million against $452 million for the same period a year ago. Net profit was $1,018 million against $495 million for the same period a year ago. Basic earnings per share were $1.25 per share against $0.61 per share for the same period a year ago.

For the quarter, the company reported crude steel production of 3,001,000 tonnes. Hot metal production of 2,259,000 tonnes. Total consolidated steel products were 2,844,000 tonnes. Iron ore pellets sales were 3,123,000 tonnes. Iron ore concentrate sales were 1,364,000 tonnes.

For the half year, the company reported crude steel production of 6,034,000 tonnes against 5,695,000 tonnes for the same period a year ago. Hot metal production of 4,606,000 tonnes against 4,582,000 tonnes for the same period a year ago. Total consolidated steel products were 5,708,000 tonnes against 5,281,000 tonnes for the same period a year ago. Iron ore pellets sales were 5,500,000 tonnes against 5,459,000 tonnes for the same period a year ago. Iron ore concentrate sales were 2,656,000 tonnes against 2,039,000 tonnes for the same period a year ago.