EVRAZ plc Holds Inaugural Investor Day (6541F)
June 19 2012 - 2:03AM
UK Regulatory
TIDMEVR
RNS Number : 6541F
Evraz Plc
19 June 2012
EVRAZ plc Holds Inaugural Investor Day
19 June 2012 - EVRAZ plc (LSE: EVR) ("EVRAZ" or the "Company")
announces that it will host its inaugural investor day at 9.00 am
in London today.
Presentations will be given by certain members of the Board of
Directors, including Alexander Abramov (Chairman), Sir Michael Peat
(Senior Independent Director) and Alexander Frolov (Chief Executive
Officer) setting out the Company's strategy for future growth.
In addition there will be presentations by the following members
of the senior management team:
-- Marat Atnashev, Vice President, Major Projects
-- Giacomo Baizini, Chief Financial Officer
-- Alexey Ivanov, Vice President, Steel (Russia)
-- Alexander Kruchinin, Vice President, Health, Safety & Environmental
-- Pavel Tatyanin, Senior Vice President, International
Highlights of the day's presentations include:
-- Continued focus on health, safety and the environment as part
of an ongoing commitment to corporate social responsibility
-- Targeted $5.0bn EBITDA in 2016
-- Planned growth in mining volumes to achieve 120%
self-coverage in iron ore and 130% in coking coal by 2016
-- Potential annual capital expenditure averaging US$1.5 billion from 2012 to 2016, on:
o Strong investment projects portfolio including some of the
best available greenfield mining opportunities in Russia
o Increased investment focused on adding value to steel
products, particularly in the rail and pipe segments
o Continued investment in cost reduction initiatives, including
PCI technology
-- Positive contribution of investments to EBITDA and cash flow expected from 2013
-- Net leverage (net debt/EBITDA) likely to rise in 2012,
although targeted below 2.0x in the medium term
-- Commitment to maintaining a balance between investment and the payment of dividends
No additional disclosure will be made about current trading in
addition to that made in the Company's Interim Management Statement
on 15 May 2012.
The presentations are available on the Company's website
www.evraz.com.
###
For further information:
Investor Relations: Alexander Boreyko Director, Investor
Relations
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
Media Relations: Oleg Kuzmin VP, Corporate Communications
London: +44 207 832 8998 Moscow: +7 495 937 6871 media@evraz.com
This announcement contains "forward-looking statements", which
include all statements other than statements of historical facts,
including, without limitation, any statements preceded by, followed
by or that include the words "targets", "believes", "expects",
"aims", "intends", "will", "may", "anticipates", "would", "could"
or similar expressions or the negative thereof. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors beyond the Company's
control that could cause the actual results, performance or
achievements of the Company and its subsidiaries to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking, including, among
others, the achievement of anticipated levels of profitability,
growth, cost and synergy of recent acquisitions, the impact of
competitive pricing, the ability to obtain necessary regulatory
approvals and licenses, the impact of developments in the Russian
economic, political and legal environment, volatility in stock
markets or in the price of the Company's shares, financial risk
management and the impact of general business and global economic
conditions.
EVRAZ is a vertically integrated steel, mining and vanadium
business with operations in the Russian Federation, Ukraine, USA,
Canada, Czech Republic, Italy and South Africa. EVRAZ is among the
top 20 largest steel producers in the world based on crude steel
production of 16.8 million tonnes in 2011. In 2011 EVRAZ sold 15.5
million tonnes of steel products. A significant portion of the
Group's internal consumption of iron ore and coking coal is covered
by its mining operations. The Group's consolidated revenues for the
year ended 31 December 2011 were US$16,400 million and consolidated
adjusted EBITDA amounted to US$2,898 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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