Russian steel company OAO Severstal (SVST.L), Monday posted net profit of $44 million for the first quarter, a decline from $427 million reported during the comparable period last year. Basic earnings per share decreased to $0.05 per share from $0.46 per share recorded previous year.
EBITDA for the quarter decreased to $425 million from $565 million reported during the same period prior year. This decline reflects lower prices across the divisions, the company said in a statement.
Profit from operations was $222 million compared with $387 million during the corresponding quarter last year.
Revenues generated for the three-month period were $3.32 billion, compared with $3.67 billion reported last year.
The Board recommended a dividend of 0.43 roubles per share, or approximately $0.01 for the three months ended March 31. The dividend, having record date as April 26, is expected to be approved at its Annual General Meeting on June 13.
For comments and feedback: editorial@rttnews.com