Last checked at 19 Jun 2012 07:03
EVRAZ plc Holds Inaugural Investor Day
19 June 2012 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company") announces that it will host its inaugural investor day at 9.00 am in London today.
Presentations will be given by certain members of the Board of Directors, including Alexander Abramov (Chairman), Sir Michael Peat (Senior Independent Director) and Alexander Frolov (Chief Executive Officer) setting out the Company's strategy for future growth.
In addition there will be presentations by the following members of the senior management team:
·; Marat Atnashev, Vice President, Major Projects
·; Giacomo Baizini, Chief Financial Officer
·; Alexey Ivanov, Vice President, Steel (Russia)
·; Alexander Kruchinin, Vice President, Health, Safety & Environmental
·; Pavel Tatyanin, Senior Vice President, International
Highlights of the day's presentations include:
·; Continued focus on health, safety and the environment as part of an ongoing commitment to corporate social responsibility
·; Targeted $5.0bn EBITDA in 2016
·; Planned growth in mining volumes to achieve 120% self-coverage in iron ore and 130% in coking coal by 2016
·; Potential annual capital expenditure averaging US$1.5 billion from 2012 to 2016, on:
o Strong investment projects portfolio including some of the best available greenfield mining opportunities in Russia
o Increased investment focused on adding value to steel products, particularly in the rail and pipe segments
o Continued investment in cost reduction initiatives, including PCI technology
·; Positive contribution of investments to EBITDA and cash flow expected from 2013
·; Net leverage (net debt/EBITDA) likely to rise in 2012, although targeted below 2.0x in the medium term
·; Commitment to maintaining a balance between investment and the payment of dividends
No additional disclosure will be made about current trading in addition to that made in the Company's Interim Management Statement on 15 May 2012.
The presentations are available on the Company's website www.evraz.com.
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For further information:
Investor Relations:Alexander BoreykoDirector, Investor RelationsLondon: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
Media Relations:Oleg KuzminVP, Corporate CommunicationsLondon: +44 207 832 8998 Moscow: +7 495 937 6871media@evraz.com
This announcement contains "forward-looking statements", which include all statements other than statements of historical facts, including, without limitation, any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company and its subsidiaries to be materially different from future results, performance or achievements expressed or implied by such forward-looking, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of the Company's shares, financial risk management and the impact of general business and global economic conditions.
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top 20 largest steel producers in the world based on crude steel production of 16.8 million tonnes in 2011. In 2011 EVRAZ sold 15.5 million tonnes of steel products. A significant portion of the Group's internal consumption of iron ore and coking coal is covered by its mining operations. The Group's consolidated revenues for the year ended 31 December 2011 were US$16,400 million and consolidated adjusted EBITDA amounted to US$2,898 million.