Mechel net profit in 2005 goes down by 29.8%

22 May 2006 (08:48)

Mechel JSC has recently made its financial results for 2005 public. According to the company’s PRP-deparmtent, their net profit decreased by 29.8% (down to $381,180,000); the gross operating income decreased by 31.3% (down to $515,728,000). Net avails increased by 4.6% (up to $3.8bn against $3.64bn in 2004).

EBITDA decreased by 20% and came to $726.25m against $907.73m. ‘The year 2005 was hard for Mechel because of higher raw materials costs and complicated price patterns that had a negative influence on the profitability of our company,’ indicated Alexey Ivanushkin, CEO of Mechel JSC.

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