Severstal IFRS net profit falls 30% to $1.2 bln in 2006

Severstal [RTS: CHMF] said Monday its net profit, calculated to International Financial Reporting Standards (IFRS), declined 30.4%, year-on-year, in 2006, to $1.18 billion, RIA Novosti reports.

Russia's second-largest steel producer said its sales increased 19.1% in the reporting period, to $12.42 billion, while operating income fell 15.8%, year-on-year, to $1.95 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) went up 4.7%, to $2.98 billion, LUKoil said in a statement.

LUKoil said earlier Monday its net profit, calculated to Russian Accounting Standards (RAS), grew 2.3%, year-on-year, in 2006, to 35.93 billion rubles (about $1.35 billion).