31 Jan 2012 07:00
Severstal reports Q4 and FY 2011 operational results
Moscow, Russia - January 31, 2012 - OAO Severstal (LSE: SVST), one of the world's leading vertically integrated steel and mining companies, today announces its operational results for Q4 and 12 months 2011. On November 30, 2011, Severstal announced the separation of its gold business. The transaction was completed in January, 2012.
SUMMARY OF KEY PRODUCTION, SALES VOLUMES AND SELLING PRICES DATA
Production, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Hot metal (total output): | 2 618 165 | 2 629 011 | 0% | 10 543 687 | 10 490 584 | 1% |
Russian Steel | 2 213 400 | 2 182 354 | 1% | 8 815 059 | 8 689 308 | 1% |
North America | 404 765 | 446 657 | -9% | 1 728 628 | 1 801 276 | -4% |
Crude steel (total output): | 3 761 692 | 4 010 369 | -6% | 15 293 407 | 14 724 677 | 4% |
Russian Steel | 2 788 605 | 2 881 165 | -3% | 11 354 746 | 11 085 171 | 2% |
Severstal North America (SNA) | 973 087 | 1 129 204 | -14% | 3 938 661 | 3 639 506 | 8% |
Sales volume, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coking coal concentrate | 1 876 736 | 1 981 637 | -5% | 7 591 670 | 7 262 414 | 5% |
Iron ore pellets | 2 617 272 | 2 865 831 | -9% | 10 051 406 | 9 797 203 | 3% |
Iron ore concentrate | 1 216 039 | 1 254 673 | -3% | 4 763 870 | 4 027 167 | 18% |
Steel products* | 3 630 444 | 4 137 768 | -12% | 14 824 074 | 14 437 555 | 3% |
Rolled products (Russian Steel) | 1 836 180 | 2 220 378 | -17% | 7 833 030 | 7 663 670 | 2% |
Rolled products (SNA) | 1 022 938 | 1 078 529 | -5% | 3 808 552 | 3 581 636 | 6% |
Average price, $/MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coking coal concentrate | 166 | 199 | -17% | 184 | 138 | 34% |
Iron ore pellets | 133 | 135 | -1% | 134 | 103 | 30% |
Hot-rolled strip and plate (Russian Steel) | 700 | 749 | -7% | 732 | 599 | 22% |
Rolled products (SNA) | 822 | 857 | -4% | 862 | 754 | 14% |
*- Consolidated sales
SALES VOLUME BY SEGMENT
Severstal Resources
Sales volume, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coal: | 2 691 567 | 2 667 160 | 1% | 10 634 866 | 11 733 003 | -9% |
Coking coal concentrate, including | 1 876 736 | 1 981 637 | -5% | 7 591 670 | 7 262 414 | 5% |
Vorkutaugol | 1 295 302 | 1 205 909 | 7% | 5 127 440 | 5 361 814 | -4% |
PBS Coals | 581 434 | 775 728 | -25% | 2 464 229 | 1 900 600 | 30% |
Raw coking coal, Vorkutaugol | 88 193 | 82 226 | 7% | 289 556 | 574 752 | -50% |
Steam coal, including | 726 638 | 603 297 | 20% | 2 753 640 | 3 895 837 | -29% |
Vorkutaugol | 649 505 | 463 206 | 40% | 2 028 358 | 2 572 098 | -21% |
PBS Coals | 77 134 | 140 091 | -45% | 725 283 | 1 323 739 | -45% |
Iron ore: | 3 833 311 | 4 120 504 | -7% | 14 815 276 | 13 824 370 | 7% |
Iron ore pellets | 2 617 272 | 2 865 831 | -9% | 10 051 406 | 9 797 203 | 3% |
Iron ore concentrate | 1 216 039 | 1 254 673 | -3% | 4 763 870 | 4 027 167 | 18% |
Severstal Russian Steel
Sales volume, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Semi-finished products | 312 431 | 341 570 | -9% | 1 291 844 | 1 403 226 | -8% |
Rolled products: | 1 836 180 | 2 220 378 | -17% | 7 833 030 | 7 663 670 | 2% |
Hot-rolled strip and plate | 1 075 974 | 1 260 698 | -15% | 4 615 060 | 4 569 341 | 1% |
Cold-rolled sheet | 345 551 | 366 928 | -6% | 1 396 173 | 1 540 614 | -9% |
Galvanised and metallic coated sheet | 177 116 | 254 183 | -30% | 765 083 | 536 594 | 43% |
Color coated sheet | 54 082 | 73 535 | -26% | 240 589 | 243 716 | -1% |
Long products | 183 456 | 265 033 | -31% | 816 126 | 773 405 | 6% |
Downstream products: | 458 896 | 500 954 | -8% | 1 902 821 | 1 747 411 | 9% |
Metalware products | 178 622 | 192 278 | -7% | 765 434 | 785 858 | -3% |
Large diameter pipes | 92 481 | 141 579 | -35% | 501 483 | 471 185 | 6% |
Other tubes, pipes, formed shapes | 187 792 | 167 097 | 12% | 635 903 | 490 368 | 30% |
Severstal North America
Sales volume, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Rolled products: | 1 022 938 | 1 078 529 | -5% | 3 808 552 | 3 581 636 | 6% |
Hot-rolled strip and plate | 596 523 | 668 154 | -11% | 2 063 660 | 1 800 636 | 15% |
Cold-rolled sheet | 131 302 | 121 634 | 8% | 519 385 | 652 727 | -20% |
Galvanised and metallic coated sheet | 295 113 | 288 742 | 2% | 1 225 507 | 1 128 273 | 9% |
CONSOLIDATED SALES (NET OF INTERCOMPANY SALES)
Sales volume, MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coal: | 1 809 504 | 1 708 834 | 6% | 7 036 755 | 7 679 159 | -8% |
Coking coal concentrate | 994 673 | 1 023 311 | -3% | 3 993 559 | 3 208 709 | 24% |
Raw coking coal | 88 193 | 82 226 | 7% | 289 556 | 574 682 | -50% |
Steam coal | 726 638 | 603 297 | 20% | 2 753 640 | 3 895 768 | -29% |
Iron ore: | 1 565 845 | 1 832 064 | -15% | 5 625 915 | 3 561 123 | 58% |
Iron ore pellets | 1 565 845 | 1 731 441 | -10% | 5 322 831 | 3 561 123 | 49% |
Iron ore concentrate | 0 | 100 623 | - | 303 084 | 0 | - |
Semi-finished products | 312 431 | 341 827 | -9% | 1 292 420 | 1 299 775 | -1% |
Rolled products: | 2 859 117 | 3 295 581 | -13% | 11 630 620 | 11 393 093 | 2% |
Hot-rolled strip and plate | 1 672 496 | 1 928 796 | -13% | 6 678 539 | 6 402 876 | 4% |
Cold-rolled sheet | 476 854 | 488 562 | -2% | 1 915 558 | 2 252 064 | -15% |
Galvanised and metallic coated sheet | 472 229 | 542 924 | -13% | 1 990 590 | 1 732 664 | 15% |
Color coated sheet | 54 082 | 73 535 | -26% | 240 589 | 243 716 | -1% |
Long products | 183 456 | 261 763 | -30% | 805 345 | 761 773 | 6% |
Downstream products: | 458 896 | 500 359 | -8% | 1 901 034 | 1 744 687 | 9% |
Metalware products | 178 622 | 191 683 | -7% | 763 648 | 783 686 | -3% |
Large diameter pipes | 92 481 | 141 579 | -35% | 501 483 | 471 185 | 6% |
Other tubes, pipes, formed shapes | 187 792 | 167 097 | 12% | 635 903 | 489 816 | 30% |
AVERAGE SELLING PRICES FOR CONSOLIDATED SALES
Sales price (EXW), $/MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coal: | ||||||
Coking coal concentrate | 168 | 190 | -11% | 171 | 140 | 22% |
Raw coking coal, Vorkutaugol | 124 | 146 | -15% | 139 | 66 | 111% |
Steam coal | 40 | 43 | -7% | 45 | 43 | 5% |
Iron ore: | ||||||
Iron ore pellets | 139 | 133 | 4% | 133 | 108 | 23% |
Iron ore concentrate | 0 | 101 | - | 100 | 0 | - |
Semi-finished products | 549 | 612 | -10% | 592 | 489 | 21% |
Rolled products: | ||||||
Hot-rolled strip and plate | 713 | 758 | -6% | 747 | 619 | 21% |
Cold-rolled sheet | 822 | 879 | -7% | 866 | 705 | 23% |
Galvanised and metallic coated sheet | 993 | 1 048 | -5% | 1 006 | 885 | 14% |
Color coated sheet | 1 210 | 1 345 | -10% | 1 267 | 1 182 | 7% |
Long products | 690 | 757 | -9% | 736 | 617 | 19% |
Downstream products: | ||||||
Metalware products | 1 200 | 1 301 | -8% | 1 264 | 1 062 | 19% |
Large diameter pipes | 2 006 | 1 911 | 5% | 2 007 | 2 040 | -2% |
Other tubes and pipes, formed shapes | 819 | 883 | -7% | 868 | 710 | 22% |
AVERAGE SELLING PRICES BY SEGMENT
Severstal Resources
Sales price (EXW), $/MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Coal: | ||||||
Coking coal concentrate | 166 | 199 | -17% | 184 | 138 | 34% |
Vorkutaugol | 167 | 210 | -20% | 193 | 143 | 35% |
PBS Coals | 162 | 182 | -11% | 166 | 122 | 36% |
Raw coking coal, Vorkutaugol | 124 | 146 | -15% | 139 | 66 | 111% |
Steam coal | 40 | 43 | -7% | 45 | 41 | 9% |
Vorkutaugol | 36 | 37 | -1% | 37 | 32 | 17% |
PBS Coals | 70 | 64 | 9% | 66 | 59 | 12% |
Iron ore: | ||||||
Iron ore pellets | 133 | 135 | -1% | 134 | 103 | 30% |
Iron ore concentrate | 86 | 97 | -12% | 95 | 68 | 40% |
Severstal Russian Steel
Sales price (EXW), $/MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Semi-finished products | 549 | 612 | -10% | 592 | 482 | 23% |
Rolled products: | ||||||
Hot-rolled strip and plate | 700 | 749 | -7% | 732 | 599 | 22% |
Cold-rolled sheet | 808 | 872 | -7% | 848 | 670 | 27% |
Galvanised and metallic coated sheet | 1 015 | 1 073 | -5% | 1 023 | 852 | 20% |
Color coated sheet | 1 210 | 1 345 | -10% | 1 267 | 1 182 | 7% |
Long products | 690 | 757 | -9% | 736 | 617 | 19% |
Downstream products: | ||||||
Metalware products | 1 200 | 1 301 | -8% | 1 264 | 1 063 | 19% |
Large diameter pipes | 2 006 | 1 911 | 5% | 2 007 | 2 040 | -2% |
Other tubes and pipes, formed shapes | 819 | 883 | -7% | 868 | 710 | 22% |
Severstal North America
Sales price (EXW), $/MT | Q4 2011 | Q3 2011 | Change, % | 2011 | 2010 | Change, % |
Rolled products: | 822 | 857 | -4% | 862 | 754 | 14% |
Notes: 1) Segmental data include intercompany sales; 2) Semi-finished products include pig iron, slabs, billets, ingots, steel casting and forgings; 3) Metalware sales volumes and metalware average selling prices include Severstal Metiz, Cherepovets Steel Mill, Severstallat and Severstal Invest data
***
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 vertically integrated steel and steel related mining companies, with assets in Russia and the USA, in Ukraine, Latvia, Poland, Italy, Liberia and Brazil. Severstal is listed on MICEX and the company's GDRs are traded on the LSE. Severstal reported revenue of $13,573 million and EBITDA of $3,263 million in 2010. Severstal's crude steel production in 2010 reached 14.7 million tonnes. www.severstal.com