The net profit of Severstal under IFRS went up by a factor of 2.3 to $999m in the first six months of 2007 compared to $426m in the same period a year earlier, the Russian steel producer's documents state according to RBC. Revenue increased 31 percent to $7.71bn against $5.88bn in H1 2006. EBITDA amounted to $2.09bn, which is 60.7 percent greater than in January-June 2006 ($1.3bn). Operating profit soared 81 percent to $1.48bn compared to $820m in H1 2006.
As reported earlier, the company's net profit surged 82.5 percent to $396m in the first quarter of 2007 against $217m in the same period a year earlier. Revenue went up 34.9 percent to $3.677bn against $2.725bn in Q1 2006.