PAO Severstal (SVST) PAO Severstal: Severstal reports Q4 2021
and 12m 2021 financial and operational results 18-Feb-2022 / 10:00
MSK Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR),
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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Severstal reports Q4 2021 and 12m 2021 financial and operational
results
- Achieving new goals in 2021 -
Moscow, Russia - 18 February 2022 - PAO Severstal (MOEX: CHMF;
LSE: SVST) increased its revenue in Q4 2021 by 2% qoq to USD3,267
mln due to strong sales, EBITDA amounted to USD1,446 mln (-16%
qoq), EBITDA margin amounted to 44% (-10 ppts qoq). Severstal
achieved record financial results for 12 m 2021 with revenue
growing by 69% yoy to USD11.6 bn, EBITDA increased by 147% to USD6
bn resulting in USD3.5 bn of FCF (+322% yoy). KEY CONSOLIDATED
OPERATIONAL AND FINANCIAL RESULTS
Q4 2021 Q3 2021 qoq, % 2021 2020 yoy, %
Financials, USD million
Revenue 3,267 3,206 2% 11,638 6,870 69%
EBITDA1 1,446 1,723 (16%) 5,978 2,422 147%
EBITDA margin, % 44% 54% (10 ppts) 51% 35% 16 ppts
Free cash flow2 1,114 992 12% 3,539 838 322%
Net profit 978 1,237 (21%) 4,075 1,016 301%
Net debt/EBITDA3 0.23 0.29 (21%) 0.23 0.84 (73%)
Basic EPS4, USD 1.17 1.48 (21%) 4.88 1.23 297%
Production, kt
Hot metal 2,928 2,728 7% 10,957 9,541 15%
Crude steel 3,032 2,878 5% 11,647 11,314 3%
Sales, kt
Steel products, incl: 3,098 2,694 15% 11,100 10,500 6%
HVA 1,410 1,146 23% 5,086 4,787 6%
Iron ore products 901 1,092 (17%) 4,327 6,024 (28%)
Coal 71 127 (44%) 825 1,469 (44%)
Health and safety
LTIFR (staff) 5 0.74 0.93 (20%) 0.69 0.65 6%
LTIFR (staff+contractors) 6 0.70 0.88 (20%) 0.72 0.70 3%
Notes: 1. EBITDA represents profit from operations plus
depreciation and amortisation of productive assets (including the
Group's share of depreciation and amortisation of associates and
joint ventures) adjusted for thegain/(loss) on disposals of PPE and
intangible assets and its share in associates' and joint
ventures'non-operating income/(expenses). A reconciliation of
EBITDA to profit from operations is presented in Severstal'sannual
audited financial statements. 2. Free Cash Flow ("FCF") is
determined as the aggregate amount of the following items: Net cash
fromoperating activities, CAPEX, proceeds from disposal of PPE and
intangible assets, interest received and dividendsreceived. A
reconciliation of FCF to net cash from operating activities is
presented in Severstal's annual audited financial statements. 3.
Net Debt/EBITDA ratio is calculated as net debt divided by EBITDA
for the last 12 months and is includedin Severstal's annual audited
financial statements. Net debt equals the total debt less cash and
cash equivalents at the end of the reporting period. 4. Basic EPS
is calculated as profit for the period divided by the weighted
average number of sharesoutstanding during the period: 838 million
shares for Q4 2021 and Q3 2021; 834 mln shares for 12m 2021 and 825
million shares for 12m 2020. 5. LTIFR refers to Lost Time Injury
Frequency Rate, the number of lost time injuries occurring in a
workplace per one million hours worked. The scope covers injuries
and hours worked for staff, using the cumulativedata from the
beginning of the calendar year. This key performance indicator was
the subject of independentassurance at 31 December 2021. 6. The
LTIFR for staff and contractors is calculated in the same way as
that for staff. This key performanceindicator is planned to be the
subject of independent assurance at 31 December 2022. Q4 2021 vs.
Q3 2021 ANALYSIS:
Consolidated operational results
-- Production: Hot metal output grew by 7% qoq to 2.93 mln
tonnes. Crude steel production rose by 5% qoq to 3.03 mln tonnes,
as a result of the upgrade of casting machines.
-- Steel sales increased by 15% qoq to 3.1 mln tonnes, due to
strong sales of hot-rolled steel and HVAproducts. Sales of HVA
amounted to 1.41 mln tonnes (+23% qoq), while sales of hot-rolled
steel and plate grew by 26% qoq to
1.41 mln tonnes due to the end of a repair programme. The total
share of export sales volume, including sales of pig iron returned
to 42% (-9 ppts qoq) due to stronger demand in Russia.
-- Total share of high value-added (HVA) products increased by 3
ppts qoq to 46% against the backdrop ofhigher demand in Russia for
cold-rolled steel, LDP and other pipes and for steel with coatings
- HDG and colour-coated coil.
-- Raw materials sales: Iron ore sales to third parties reduced
by 17% qoq to 0.9 mln tonnes, driven by aredistribution of sales to
Cherepovets steel mill on the back of higher hot metal output. Iron
ore concentrate sales to third parties was stopped in Q4 2021.
Consolidated financial results
-- Revenue increased by 2% qoq to USD3,267 mln due to higher
sales volumes. This was partially offset by adecrease in average
selling prices (-8% qoq). Sales growth was primarily driven by the
domestic market with an increase of revenue from Russia (+16%
qoq).
-- EBITDA decreased to USD1,446 mln (-16% qoq) on the back of
narrowing spreads between raw materials andslabs. Profitability was
also partially impacted by the export duties imposed by the Russian
government. EBITDAmargin decreased to 44% (-10 ppts qoq).
-- Free Cash Flow increased to USD1,114 mln (+12% qoq), partly
driven by a working capital release (+USD244 mln).
-- Working capital release was mainly associated with: ? the
decrease of trade accounts receivable (+USD170 mln), ? the increase
of trade accounts payable (+USD54 mln).
2021 vs. 2020 ANALYSIS: Consolidated operational results
-- Production: Hot metal production reached 10.96 mln tonnes
(+15% yoy), due to BF-3 commissioning inDecember 2020. Steel output
grew to 11.65 mln tonnes (+3% yoy), driven by the EAF-1 start up in
April 2021 andcompletion of BOF shop and casting machines
upgrades.
-- Steel sales increased to 11.1 mln tonnes (+6% yoy). Sales of
semi-finished products grew by three times yoy to
1.41 mln tonnes following higher output of pig iron and crude
steel, coupled with repairs in the hot-rolled shop. Sales of
hot-rolled steel (incl. plates) decreased by 9% yoy to 4.8 mln
tonnes mainly due to a large-scale upgrade of one of the continuous
slab heating furnaces.
-- High value-added (HVA) sales increased by 6% yoy to 5.09 mln
tonnes on stronger sales of high value addedhot- rolled steel (+23%
yoy to 0.86 mln tonnes), cold-rolled steel (+19% yoy to 1.09 mln
tonnes) and LDP (+82% yoy to
0.34 mln tonnes). The HVA share in total sales amounted to 46%
(flat yoy).
-- Raw materials sales: Sales of coal decreased by 44% yoy to
0.83 mln tonnes driven mainly by a decline insteam coal sales as a
result of the decision to terminate energy coal grades' production
in 1Q 2022. Sales of iron ore products decreased by 28% to 4.33 mln
tonnes, driven by the redirection of iron ore flow to own assets
following the start-up of BF-3 at the end of 2020. Sales of iron
ore pellets to third parties reduced by 27% yoy to4.25 mln tonnes.
Consolidated financial results
-- Revenue increased to USD11,638 mln (+69% yoy) due to higher
steel prices and growth of steel sales.
-- EBITDA grew to USD5,978 mln (+147% yoy). EBITDA margin
reached a record high of 51%.
-- Net profit totalled USD4,075 mln (+301% yoy) driven by
top-line growth.
-- Free Cash Flow increased by 322% yoy to USD3,539 mln, driven
by higher earnings.
-- CAPEX amounted to USD1,157 mln. Financial position
-- Cash and cash equivalents increased to USD418 mln (+49% qoq)
on the back of strong operating cash flow.
-- Total debt amounted to USD1,816 mln (flat qoq).
-- Net debt decreased to USD1,398 mln (-9% qoq). The Net
debt/EBITDA ratio improved to 0.23.
-- A strong liquidity position, with USD418 mln in cash and cash
equivalents, in addition to unused committedcredit lines and
overdraft facilities of USD1,129 mln, more than covers the
Company's short-term debt of USD681 mln. Alexander Shevelev, CEO of
Severstal Management, commented:
"The COVID-19 pandemic is still affecting our lives. The
combination of the Delta and Omicron variants drove a dangerous
tsunami of Covid-19 cases in Q4 2021 and early 2022. In this
challenging environment we continue to use all our preventive
measures to ensure a safe environment in the workplace for our
employees and contractors. Today more than 82% of them have already
been vaccinated. The total share of employees with immunity through
vaccination or antibodies is already more than 88%, ensuring a
safer environment for everyone.
We also continue to focus on injury prevention. LTIFR for our
staff declined by 20% qoq to 0.74 in Q4 2021. Also we had no
fatality cases in the reporting quarter. The number of injuries
decreased by 1% to 97 cases in 2021. At the same time, fatal
injuries decreased by 64% and major injuries - by 28%. We also
developed a new strategy on health and safety management, which is
essential in achieving our target of zero fatalities by 2025.
In Q4 2021 steel prices declined from record high levels. The
residential construction crisis in China; limited automotive output
as a result of the shortage of semiconductors in the EU, Turkey and
Russia; and falling iron ore prices weigh on steel prices. Iron ore
prices were decreasing during the quarter, although heavy rains in
Brazil and Australia coupled with La Niña impacts reversed the
price trend at the very end of the year, limiting supply.
Despite decreased steel and iron ore prices we increased our
revenue by 2% qoq to USD3.267 mln due to higher sales. However, the
decrease in steel prices and narrowed spreads in raw materials
coupled with the export duties in force pushed down our EBITDA to
USD1,446 mln (-16% qoq) and EBITDA margin slipped to 44% (-10 ppts
qoq). On the same time our continuous focus on working capital
management enabled us to release an additional USD244 mln from
working capital, resulting in an increase of FCF to USD1.1bn (+12%
qoq).
Looking back on the year, I'm proud to say, that it was a record
year for Severstal. Revenue grew by 69% yoy to USD11,638 mln,
supported by higher sales and an increase in average selling
prices. EBITDA increased by 147% compared to the previous year,
reaching USD5,978 mln with a record EBITDA margin of 51% (+16 ppts
yoy). Free cash flow amounted to USD3,539 mln which is 4 times
higher compared to those in 2020 creating a solid base for a strong
returns to shareholders.
Solid financial results strengthened our balance sheet. Total
debt decreased by 30% yoy to USD1,816, while Net debt/ EBITDA ratio
declined to 0.23 from 0.84 as at the end of Q4 2020. Severstal's
strong performance in Q4 2021 and financial strength of the company
enabled the Board to recommend a dividend of 109.81 roubles per
share for Q4 2021.
Finally, I would like to note that we continue with the sale of
our coal asset Vorkutaugol, the transaction is awaiting necessary
regulatory approvals". HEALTH AND SAFETY PERFORMANCE
-- LTIFR among employees amounted to 0.74 (-20% qoq) in Q4 2021.
The overall LTIFR for employees and contractors reached 0.7 (-20%
qoq) in the reporting period.
-- In 12m 2021 LTIFR among employees was 0.69 (+6% yoy). The
overall LTIFR for employees and contractors was0.72 (+3% yoy).
-- In Q4 2021 no fatalities occurred. Regrettably we had five
fatalities in 12m 2021 which is nine fewerthan in 2020. Each of
these cases was investigated with a change in some internal
processes to prevent similarincidents in the future. management is
not satisfied with the results to date, however we are still
committed toour target of zero fatalities. We deployed the
Contractor Safety Management and Fatal Injury Avoidance projects
inall company business units to improve our performance in health
and safety. We also have developed a new systematicapproach to
health and safety management, which will help us to achieve our
targets. You can find more details following the link.
ENVIRONMENTAL PROTECTION
-- Total emissions of air pollutants decreased by 17% qoq to
97,000 tonnes in Q4 2021 mainly due to decreasein CO emissions in
Severstal Russian Steel Segment.
-- In 12m 2021 total emissions of air pollutants grew by 5% yoy
to 468,000 tonnes due to the introduction ofa new ventilation trunk
to Vorkutaugol and a corresponding increase in the volume of
degassed methane. An increasein the production of iron ore pellets
by 7.3% and an increase in the mass fraction of sulphur in the
produced ironore concentrate by 16% also led to the increase of
emissions. DIVID
-- The Board of Directors is recommending a dividend of 109.81
roubles per share for Q4 2021. Approval ofthe dividend is expected
to take place at the Company's AGM on 20 May 2022.The recommended
record date for thedividend payment is 31 May 2022. The approval of
the record date for the dividend payment is also expected to
takeplace at the Company's AGM on 20 May 2022. MARKET UPDATE AND
OUTLOOK
-- Steel price environment remains supportive: stabilization
after downward trend of 2H 2021 and rebound inthe beginning of 2022
on the back of seasonal demand growth.
-- Raw material prices showed mixed dynamics. The general
downside trend was reversed by supply shortages atthe end of Q4.
Heavy rains in Brazil and Australia returned iron ore and coking
coal prices to levels at thebeginning of the 4th quarter. China
ramped up domestic coking coal production resulting in the internal
marketpremium almost completely disappearing. However, cocking coal
prices are still stay on a high level.
-- Russian economy grew faster than expected in Q4 mainly due to
higher fossil fuels prices. The rapidresumption of economic
activity and supply chain disruptions led to an inflation surge
around the globe. Inflationin Russia amounted to 8.4% in 2021. To
curb inflation the Central Bank of Russia raised its key policy
rate to 9.5%with consequential risk for the construction industry
and will probably result in lower steel demand in 2022.
-- Our estimates and Worldsteel's data show that in 2021 steel
demand globally and in Russia increased by4.7% and 4.3%,
respectively. In 2022, global and Russia's steel demand is likely
to advance by 0.4% and 3.1%,respectively. SEGMENT PERFORMANCE
Severstal Russian Steel (RSD)
USD million, unless otherwise stated Q4 2021 Q3 2021 qoq 2021 2020 yoy
Steel sales, kt 3,110 2,704 15% 11,147 10,545 6%
Semis 346 489 (29%) 1,411 473 198%
Commercial 1,354 1,067 27% 4,648 5,281 (12%)
HVA 1,410 1,148 23% 5,088 4,791 6%
Revenue 3,195 3,098 3% 11,206 6,845 64%
EBITDA 897 1,069 (16%) 3,676 1,528 141%
EBITDA margin, % 28% 35% (7ppts) 33% 22% 11ppts
-- Steel sales grew by 15% qoq on the back of strong sales of
finished steel products. Commercial steel sales increased by 27%
qoq to 1.35 mln tonnes mainly due to the growth of hot-rolled steel
shipments to the Russianmarket. HVA product sales were up by 23%
qoq to 1.41 mln tonnes. Share of sales to the Russian market
increased to58% (+9 ppts qoq) against the backdrop of a rapid
rebound of economic activity and supply chains disruptions in
Russia.
-- Total share of high value-added (HVA) products amounted to
45% (+3 ppts qoq).
-- Revenue was up by 3% qoq to USD3,195 mln driven by sales
volume increase. This was partially neutralised by falling average
prices.
-- EBITDA contracted by 16% qoq to USD897 mln, which is still
well above historical average. EBITDA margin amounted to 28% (-7
ppts qoq) on narrowing price spreads.
-- The total non-integrated cash cost of slab per tonne at the
Cherepovets Steel Mill was USD409/t (-19% qoq) driven by softer raw
material costs. The integrated cash cost of slab amounted to
USD242/t (+8% qoq). Severstal Resources
USD million, unless otherwise stated Q4 2021 Q3 2021 qoq 2021 2020 yoy
?oal sales, kt 1,331 810 64% 4,588 5,890 (22%)
Iron ore sales, kt 4,773 4,560 5% 18,134 18,010 1%
Revenue 764 1,016 (25%) 3,526 1,825 93%
EBITDA 488 761 (36%) 2,507 958 162%
EBITDA margin, % 64% 75% (11ppts) 71% 53% 18ppts
-- Sales of iron ore increased by 5% qoq to 4.77 mln tonnes due
to output growth at Yakovlevskiy GOK in linewith our Strategy.
-- Revenue from the Resources Division decreased by 25% qoq to
USD764 mln reflecting a decline in average selling prices. EBITDA
was down by 36% qoq to USD488 mln due to price. EBITDA margin
decreased to 64% (-11 ppts qoq).
-- At Vorkutaugol, the cash cost of coal concentrate per tonne
decreased to USD53/t (-48% qoq) due to growth of production. The
cash cost of iron ore pellets per tonne at Karelsky Okatysh was
flat qoq at USD34/t. At Olcon, thecash cost per tonne of iron ore
concentrate grew to USD34/t (+21% qoq).
NOTES 1. Full financial statements are available at
http://www.severstal.com/eng/ir/results_and_reports/financial_results/index.phtml.
2. Severstal's Annual Report 2021 is available at
http://www.severstal.com/eng/ir/results_and_reports/annual_reports/index.phtml
A conference call on Q4 2021 and 12m 2021 results for investors
and analysts hosted by Alexey Kulichenko, Chief Financial Officer,
will be held on 18 February 2022 at 12.00 (London)/ 14.00
(Moscow).
To join the webcast (with registration form) please follow the
link:
https://mm.closir.com/slides?id=314887
*We recommend that participants start dialling in 10 minutes
prior to ensure a timely start of the conference call.
To join the conference call, please dial: United Kingdom
Number:
+44 203 984 9844 (local access)
+44 800 011 9129 (toll free)
US Number:
+1 718 866 4614 (local access)
+1 888 686 3653 (toll free)
Russian Dial:
+7 495 283 98 58 (local access)
Participant code: 314887
ANNEX 1. Consolidates sales by product
Sales volumes
Q4 2021 Q3 2021 qoq 2021 2020 yoy
Kt
Coal: 71 127 (44%) 825 1,469 (44%)
Coking coal concentrate 46 39 18% 158 281 (44%)
Steam coal 25 88 (72%) 667 1,188 (44%)
Iron ore: 901 1,092 (17%) 4,327 6,024 (28%)
Iron ore pellets 901 1,061 (15%) 4,249 5,837 (27%)
Iron ore concentrate - 31 (100%) 78 187 (58%)
Steel: 3,098 2,694 15% 11,100 10,500 6%
Semi-finished products 346 489 (29%) 1,411 472 199%
Hot-rolled steel: 1,407 1,115 26% 4,815 5,277 (9%)
incl. Hot-rolled high value added 225 227 (1%) 863 703 23%
Cold-rolled steel 307 248 24% 1,092 918 19%
Galvanized steel 269 216 25% 1,015 923 10%
Colour coated coil 113 86 31% 401 471 (15%)
Long steel 160 171 (6%) 651 667 (2%)
Metalware 147 139 6% 603 587 3%
Large diameter pipes 118 90 31% 343 188 82%
Other tubes, pipes, formed shapes 225 135 67% 758 997 (24%)
Steel solutions 6 5 20% 11 - n/a 2. Russian Steel Division sales by product
Sales volumes
Q4 2021 Q3 2021 qoq 2021 2020 yoy
Kt
Total steel products 3,110 2,704 15% 11,147 10,545 6%
Semi-finished products 346 489 (29%) 1,411 473 198%
Hot-rolled steel: 1,407 1,115 26% 4,815 5,277 (9%)
incl. Hot-rolled high value added 225 229 (2%) 863 704 23%
Cold-rolled coil 307 248 24% 1,092 918 19%
Galvanized and metallic coated coil 269 216 25% 1,015 923 10%
Colour coated coil 113 86 31% 401 471 (15%)
Long products 172 181 (5%) 696 708 (2%)
Metalware products 147 139 6% 605 590 3%
Large diameter pipes 118 90 31% 343 188 82%
Other tubes, pipes, formed shapes 225 135 67% 758 997 (24%)
Steel solutions 6 5 20% 11 - n/a 3. Russian Steel Division sales by destination
Sales volumes
Q4 2021 Q3 2021 qoq 2021 2020 yoy
Kt
Total steel products 3,110 2,704 15% 11,147 10,545 6%
Russia 1,794 1,313 37% 5,845 6,424 (9%)
Export 1,316 1,391 (5%) 5,302 4,121 29% 4. Russian Steel Division average prices
Sales price, USD/tonne Q4 2021 Q3 2021 qoq 2021 2020 yoy
Semi-finished products 595 646 (8%) 607 389 56%
Hot-rolled steel 895 1,009 (11%) 844 454 86%
incl. Hot-rolled high value added 1,049 1,035 1% 885 568 56%
Cold-rolled coil 945 1,155 (18%) 962 537 79%
Galvanized and metallic coated coil 1,247 1,449 (14%) 1,174 645 82%
Colour coated coil 1,289 1,599 (19%) 1,361 802 70%
Long products 760 754 1% 688 425 62%
Metalware products 1,411 1,491 (5%) 1,255 856 47%
Large diameter pipes 855 822 4% 799 798 0%
Other tubes, pipes, formed shapes 861 986 (13%) 865 502 72%
Steel solutions 2,340 1,517 54% 1,990 n/a n/a
Weighted average selling price 927 1,012 (8%) 888 522 70% 5. Resource Division sales
Kt Q4 2021 Q3 2021 qoq 2021 2020 yoy
Coal 1,331 810 64% 4,588 5,890 (22%)
Coking coal concentrate 1,306 722 81% 3,921 4,702 (17%)
Steam coal 25 88 (72%) 667 1,188 (44%)
Iron ore 4,773 4,560 5% 18,134 18,010 1%
Iron ore pellets 2,960 2,847 4% 11,453 10,942 5%
Iron ore concentrate 1,813 1,713 6% 6,681 7,068 (5%) 6. Vorkutaugol operating highlights
Kt Q4 2021 Q3 2021 qoq 2021 2020 yoy
Run of mine: coal production, 2,759 1,695 63% 8,796 10,261 (14%)
Coking coal concentrate sales 1,306 722 81% 3,921 4,702 (17%)
Internal consumption 1,260 683 84% 3,763 4,421 (15%)
Third party 46 39 18% 158 281 (44%) 7. Karelsky Okatysh iron ore pellets production and sales volumes
Kt Q4 2021 Q3 2021 qoq 2021 2020 yoy
Production 2,973 2,849 4% 11,589 10,800 7%
Pellets sales 2,960 2,847 4% 11,453 10,942 5%
Internal consumption 2,283 2,328 (2%) 9,142 10,830 (16%)
Third party 677 519 30% 2,311 112 n/a 8. Iron ore concentrate sales volumes
Kt Q4 2021 Q3 2021 qoq 2021 2020 yoy
Olcon 1,074 1,073 0% 4,231 4,413 (4%)
Yakovlevskiy 739 627 18% 2,437 1,820 34%
Karelsky Okatysh - 13 n/a 13 835 (98%)
Total 1,813 1,713 6% 6,681 7,068 (5%) 9. Environmental protection data*
Kt Q4 2021 Q3 2021 qoq 2021 2020 yoy
Total emissions of air pollutants (Group), kt 97 117.3 (17%) 468.1 444.1 5%
Emissions of air pollutants (Severstal Russian steel), kt 52.5 67.2 (22%) 260.6 257.7 1%
NOx, kt 2.6 2.5 5% 10.8 11.3 (5%)
SOx, kt 4.5 5.8 (23%) 24.7 25.7 (4%)
CO, kt 41.4 55 (25%) 208.8 205.5 2%
VOC, kt 0.1 0.1 (13%) 0.4 0.4 (7%)
Particulate matter, kt 3.8 3.6 7% 15.2 14.1 8%
Emissions of air pollutants (Severstal Resources), kt 44.5 50.1 (11%) 207.5 186.4 11%
NOx, kt 2.4 1 138% 5.9 4.7 25%
SOx, kt 16 20.9 (23%) 79.7 68.8 16%
CO, kt 0.8 0.7 9% 3.2 3.3 (2%)
VOC, kt 0.4 0.1 206% 0.7 0.5 50%
Particulate matter, kt 3.3 1.4 142% 9.3 8.1 14%
Specific air emissions (Severstal Russian steel), kg/t of steel 17 22.8 (26%) 22.0 22.5 (2%)
* Totals may differ from the sum of rows due to rounding
For further information, please contact:
Severstal Investor Relations Vladimir Zaluzhsky, Nikita
Klimantov T: +7 (495) 926-77-66
vladimir.zaluzhsky@severstal.com na.klimantov@severstal.com
Severstal Public Relations
Anastasia Mishanina T: +7 (495) 926-77-66
anastasia.mishanina@severstal.com
Severstal's financial communications agent - Hudson Sandler
Andrew Leach / Emily Dillon T: +44 (0) 20 7796 4133
***
P?? Severstal is one of the world's most efficient metals and
mining companies, creating new products and integrated steel
solutions together with its customers and partners. The company's
assets are located in Russia, Latvia and Poland. Severstal is
listed on MOEX and the company's GDRs are traded on the LSE.
Severstal reported revenue of USD11.6 billion and EBITDA of USD6.0
billion in 2021. Severstal's crude steel production in 2021 reached
11.6 mln tonnes. www.severstal.com
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ISIN: US8181503025
Category Code: NOR
TIDM: SVST
LEI Code: 213800OKDPTV6K4ONO53
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 143821
EQS News ID: 1282833
End of Announcement EQS News Service
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