Net profit of Mechel JSC decreases by 17.9% in first quarter of 2006 compared to a year earlier

The net profit of Mechel JSC has dropped by 17.9% (from $1.04bn to $853.52m) in the first quarter of 2006 against the first quarter of 2005. Their operating income reached the point of $59m, or 6.9% of the net profit (compared to operating income of $226.77m, or 21.8% of the net profit, in 2005).

The company declared the consolidated net profit of $62.88m, or $.47 per ADR and $.16 per diluted share (compared to $169.51m, or $1.26 per ADR in the first quarter of 2005).

Consolidated EBITDA came to $134.41m against $279.66m a year earlier, the company’s spokesperson said to UrBC representative.


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