10 Feb 2011 07:00
Severstal reports Q4 2010 and FY 2010 operational results
Moscow, Russia - February 10, 2011 - OAO Severstal (LSE: SVST), one of the world's leading integrated steel and mining companies, today announces its operational results for Q4 2010 and FY 2010.
PRODUCTION OF HOT METAL AND CRUDE STEEL
Hot metal: total output | 3 042 903 | 3 038 349 | 0% | 12 567 376 | 10 679 813 | 18% |
Russian Steel | 2 270 799 | 2 188 671 | 4% | 8 689 308 | 7 223 380 | 20% |
North America | 772 104 | 849 678 | -9% | 3 878 068 | 3 456 433 | 12% |
Crude steel: total output | 4 162 672 | 4 213 246 | -1% | 17 040 789 | 15 002 989 | 14% |
Russian Steel | 2 912 806 | 2 856 327 | 2% | 11 085 171 | 9 547 770 | 16% |
North America | 1 249 866 | 1 356 919 | -8% | 5 955 618 | 5 455 219 | 9% |
CONSOLIDATED SALES (NET OF INTERCOMPANY SALES)
Coal: | 2 026 171 | 1 992 852 | 2% | 7 679 159 | 5 211 587 | 47% |
Coking coal | 281 675 | 164 811 | 71% | 574 682 | 180 228 | n.a. |
Coking coal concentrate | 829 077 | 886 209 | -6% | 3 199 800 | 1 146 255 | 179% |
Steam coal | 915 419 | 941 833 | -3% | 3 904 677 | 3 885 105 | 1% |
Iron ore | 1 240 848 | 1 064 594 | 17% | 3 561 123 | 4 645 144 | -23% |
Iron ore pellets | 1 240 848 | 1 064 594 | 17% | 3 561 123 | 4 532 355 | -21% |
Gold (oz tr.) | 194 175 | 148 412 | 31% | 602 581 | 521 599 | 16% |
Semi-finished products | 594 282 | 297 547 | 100% | 1 299 775 | 858 594 | 51% |
Rolled products: | 3 063 690 | 3 321 934 | -8% | 13 345 343 | 11 858 248 | 13% |
Hot-rolled strip and plate | 1 712 878 | 1 744 427 | -2% | 7 137 795 | 5 976 908 | 19% |
Cold-rolled sheet | 625 572 | 695 670 | -10% | 2 894 807 | 2 599 673 | 11% |
Galvanised and metallic coated sheet | 485 289 | 526 077 | -8% | 2 273 474 | 2 228 099 | 2% |
Color coated sheet | 66 661 | 96 866 | -31% | 277 493 | 294 157 | -6% |
Long products | 173 291 | 258 895 | -33% | 761 773 | 759 410 | 0% |
Downstream products: | 506 270 | 457 742 | 11% | 1 858 702 | 1 630 054 | 14% |
Metalware products | 240 400 | 230 789 | 4% | 897 763 | 805 523 | 11% |
Large diameter pipes | 135 936 | 102 814 | 32% | 471 185 | 389 603 | 21% |
Other tubes, pipes, formed shapes | 129 935 | 124 138 | 5% | 489 754 | 434 929 | 13% |
* - metric tonnes unless otherwise stated.
SEGMENT BREAKDOWN
Severstal Resources*
Coal: | 3 128 076 | 2 977 499 | 5% | 11 733 003 | 9 148 066 | 28% |
Coking coal, Vorkutaugol | 281 745 | 164 811 | 71% | 574 752 | 180 228 | n.a. |
Coking coal concentrate, including | 1 930 843 | 1 870 856 | 3% | 7 253 505 | 5 082 734 | 43% |
Vorkutaugol | 1 401 730 | 1 399 637 | 0% | 5 361 814 | 4 140 447 | 29% |
PBS Coals | 529 113 | 471 218 | 12% | 1 891 691 | 942 287 | 101% |
Steam coal, including | 915 488 | 941 833 | -3% | 3 904 746 | 3 885 105 | 1% |
Vorkutaugol | 571 763 | 561 134 | 2% | 2 572 098 | 2 358 324 | 9% |
PBS Coals | 343 725 | 380 699 | -10% | 1 332 648 | 1 526 781 | -13% |
Iron ore: | 3 615 850 | 3 595 695 | 1% | 13 824 370 | 13 870 135 | 0% |
Iron ore pellets | 2 621 623 | 2 481 119 | 6% | 9 797 203 | 8 763 006 | 12% |
Iron ore concentrate | 994 227 | 1 114 576 | -11% | 4 027 167 | 5 107 130 | -21% |
Gold (oz tr.) | 194 175 | 148 412 | 31% | 602 581 | 521 599 | 16% |
Severstal Russian Steel*
Semi-finished products | 594 015 | 297 499 | 100% | 1 403 226 | 839 331 | 67% |
Rolled products: | 1 913 614 | 1 937 918 | -1% | 7 660 603 | 6 743 485 | 14% |
Hot-rolled strip and plate | 1 134 150 | 1 074 006 | 6% | 4 566 566 | 3 948 416 | 16% |
Cold-rolled sheet | 394 528 | 370 479 | 6% | 1 540 564 | 1 265 331 | 22% |
Galvanised and metallic coated sheet | 143 923 | 140 308 | 3% | 536 541 | 508 378 | 6% |
Color coated sheet | 63 929 | 91 890 | -30% | 243 538 | 233 753 | 4% |
Long products | 177 085 | 261 236 | -32% | 773 394 | 787 607 | -2% |
Downstream products: | 473 976 | 425 946 | 11% | 1 747 349 | 1 508 297 | 16% |
Metalware products | 208 030 | 198 843 | 5% | 785 858 | 682 615 | 15% |
Large diameter pipes | 135 936 | 102 814 | 32% | 471 185 | 390 180 | 21% |
Other tubes, pipes, formed shapes | 130 011 | 124 288 | 5% | 490 307 | 435 502 | 13% |
Severstal North America*
Rolled products: | 1 153 944 | 1 386 734 | -17% | 5 698 695 | 5 143 690 | 11% |
Hot-rolled strip and plate | 578 802 | 670 799 | -14% | 2 572 189 | 2 029 126 | 27% |
Cold-rolled sheet | 231 044 | 325 191 | -29% | 1 355 617 | 1 334 440 | 2% |
Galvanised and metallic coated sheet | 341 365 | 385 769 | -12% | 1 736 934 | 1 719 721 | 1% |
Color coated sheet | 2 732 | 4 976 | -45% | 33 956 | 60 404 | -44% |
Downstream products (Metalware) | 32 791 | 32 586 | 1% | 114 077 | 124 644 | -8% |
* - including intercompany sales. ** - metric tonnes unless otherwise stated.
VOLUME WEIGHTED AVERAGE SELLING PRICES
Consolidated sales
Coal | 97 | 94 | 3% | 87 | 66 | 31% |
Coking coal, Vorkutaugol | 75 | 72 | 4% | 73 | 19 | n.a. |
Coking coal concentrate, including | 156 | 150 | 4% | 143 | 88 | 62% |
Vorkutaugol | 153 | 148 | 3% | 140 | 84 | 66% |
PBS Coals | 156 | 155 | 1% | 147 | 106 | 39% |
Steam coal | 44 | 44 | 0% | 41 | 40 | 3% |
Vorkutaugol | 33 | 32 | 3% | 31 | 28 | 11% |
PBS Coals | 59 | 62 | -5% | 60 | 58 | 3% |
Iron ore | 115 | 96 | 20% | 93 | 42 | 120% |
Iron ore pellets | 129 | 105 | 23% | 103 | 46 | 123% |
Gold (USD/oz tr.) | 1 374 | 1 238 | 11% | 1 226 | 982 | 25% |
Semi-finished products | 491 | 507 | -3% | 485 | 346 | 40% |
Rolled products | 732 | 733 | 0% | 711 | 588 | 21% |
Hot-rolled strip and plate | 622 | 623 | 0% | 608 | 488 | 25% |
Cold-rolled sheet | 728 | 752 | -3% | 709 | 601 | 18% |
Galvanised and metallic coated sheet | 894 | 915 | -2% | 899 | 844 | 7% |
Color coated sheet | 1 112 | 1 172 | -5% | 1 190 | 1 065 | 12% |
Long products | 897 | 836 | 7% | 817 | 457 | 79% |
Downstream products | 1 273 | 1 199 | 6% | 1 207 | 1 121 | 8% |
Metalware products | 1 113 | 1 120 | -1% | 1 083 | 990 | 9% |
Large diameter pipes | 2 131 | 1 992 | 7% | 2 040 | 1 994 | 2% |
Other tubes and pipes, formed shapes | 751 | 736 | 2% | 706 | 585 | 21% |
Severstal Resources
Coal | 95 | 91 | 4% | 92 | 66 | 39% |
Coking coal, Vorkutaugol | 75 | 72 | 4% | 73 | 19 | n.a. |
Coking coal concentrate | 154 | 150 | 3% | 142 | 88 | 61% |
Vorkutaugol | 153 | 148 | 3% | 140 | 84 | 66% |
PBS Coals | 156 | 155 | 1% | 147 | 106 | 39% |
Steam coal | 44 | 44 | 0% | 34 | 40 | -15% |
Vorkutaugol | 33 | 32 | 3% | 31 | 28 | 11% |
PBS Coals | 59 | 62 | -5% | 60 | 58 | 3% |
Iron ore | 115 | 96 | 20% | 115 | 42 | 173% |
Iron ore pellets | 129 | 105 | 23% | 129 | 46 | 179% |
Iron ore concentrate | 78 | 80 | -3% | 78 | 35 | 121% |
Gold (USD/oz tr.) | 1 374 | 1 238 | 11% | 1 226 | 982 | 25% |
Severstal Russian Steel
Semi-finished products | 470 | 478 | -2% | 463 | 339 | 36% |
Rolled products | 676 | 670 | 1% | 641 | 496 | 29% |
Hot-rolled strip and plate | 614 | 596 | 3% | 582 | 453 | 28% |
Cold-rolled sheet | 701 | 708 | -1% | 656 | 504 | 30% |
Galvanised and metallic coated sheet | 846 | 865 | -2% | 839 | 719 | 17% |
Color coated sheet | 1 106 | 1 161 | -5% | 1 175 | 1 040 | 13% |
Long products | 653 | 627 | 4% | 615 | 456 | 35% |
Downstream products | 1 269 | 1 187 | 7% | 1 200 | 1 091 | 10% |
Metalware products | 1 073 | 1 079 | -1% | 1 043 | 898 | 16% |
Large diameter pipes | 2 131 | 1 992 | 7% | 2 040 | 1 994 | 2% |
Other tubes and pipes, formed shapes | 751 | 736 | 2% | 706 | 585 | 21% |
Severstal North America
Rolled products: | 740 | 782 | -5% | 773 | 709 | 9% |
Hot-rolled strip and plate | 643 | 680 | -5% | 671 | 558 | 20% |
Cold-rolled sheet | 788 | 817 | -4% | 790 | 692 | 14% |
Galvanised and metallic coated sheet | 917 | 936 | -2% | 920 | 880 | 5% |
Color coated sheet | 1 270 | 1 386 | -8% | 1 323 | 1 157 | 14% |
Downstream products (Metalware) | 1 385 | 1 430 | -3% | 1 411 | 1 488 | -5% |
Note: As of Q2 2010, Severstal has been reporting its consolidated operational results without Lucchini sales volumes and average selling prices. On June 30, 2010 Severstal announced the sale of 50.8% of Lucchini S.p.A shares to a company controlled by Alexey Mordashov. Lucchini's operational results for Q4 and FY 2010 are provided below for information purposes only. Severstal currently owns 49.2% of Lucchini S.p.A.
LUCCHINI
Hot metal: total output | 408 026 | 408 023 | 0% | 1 896 248 | 1 418 751 | 34% |
Crude Steel: total output | 572 494 | 515 842 | 11% | 2 451 483 | 1 746 376 | 40% |
Semi-finished products | 177 527 | 170 306 | 4% | 889 731 | 641 663 | 39% |
Rolled long products | 463 432 | 363 330 | 28% | 1 761 147 | 1 254 898 | 40% |
Downstream products (Metalware) | 15 132 | 13 657 | 11% | 54 499 | 41 765 | 30% |
Semi-finished products | 614 | 590 | 4% | 527 | 440 | 20% |
Rolled long products | 1 039 | 1 034 | 0% | 949 | 944 | 1% |
Downstream products (Metalware) | 1 141 | 1 041 | 10% | 1 025 | 1 017 | 1% |
* - including intercompany sales
Note: Semi-finished products include hot metal, pig iron, slabs, billets, ingots, steel casting and forgings.
***
Investor Relations
Vladimir Zaluzhsky
T: +7 (495) 926-77-66 ext. 6375
vladimir.zaluzhsky@severstal.com
Public Relations
Elena Kovaleva
T: +7 (495) 926-77-66 ext. 6447
elena.kovaleva@severstal.com
***
ОАО Severstal is one of the world's leading integrated steel and mining companies. The company's shares are traded on the Russian Trading System (CHMF), MICEX (CHMF, RTS) and LSE (SVST). With assets in Russia, Ukraine, Kazakhstan, Italy, France, the USA and Africa, Severstal posted revenue of $13.05 billion and EBITDA of $844 million in 2009. The Company was also ranked 13th in Metal Bulletin's 2009 global ranking of Top Steelmakers, producing 16.8 million tonnes of crude steel. Severstal's mining assets in Russia and the USA mean that the Company is self sufficient in coking coal and iron ore in Russia and 50% self sufficient in coking coal in the USA.