OREANDA-NEWS. August 29, 2008. Evraz Group S.A. (LSE: EVR) today announces its unaudited interim results for the six months ended June 30, 2008.

1H 2008 Highlights:

Financials:
Revenue grew 78.2% to USD 10,726 million due to strong pricing, acquisitions and improved sales mix.
Consolidated adjusted EBITDA was up 80.5% to USD 3,700 million.
Net profit attributable to equity holders of Evraz Group S.A. grew 82.1% to USD 2,043 million.
Outstanding operating cash flow of USD 2,347 million, a 42.2% increase over the previous period, due to higher profit and continuing focus on working capital management.
Earnings per GDR increased by 75.4% to USD 5.56.

Steel:
Crude steel production grew by 11.9% year-on-year to 9.5 million tonnes.
Total steel sales volumes increased by 10.9% to 9.4 million tonnes.

Vanadium:
Revenues of vanadium segment increased by 212.2% to USD 740 million.
Vanadium products sales increased 57.2% year-on-year to 15,800 tonnes in vanadium equivalent.

Mining:
Iron ore production grew by 21.8% to 11.3 million tonnes with iron ore self-coverage of 93%.
Own coal production provides for over 100% of the Company’s steel making requirements.
Recently approved Yuzhkuzbassugol development programme until 2018 is another step in Yuzhkuzbassugol’s turnaround.

Corporate developments and acquisitions:
Acquisition of Claymont Steel for USD 420 million completed in January
Acquisition of IPSCO Canada for USD 2,413 million completed in June
Successful bond placements totaling USD 2.0 billion completed in April and May.