OREANDA-NEWS. February 22, 2011. “ArcelorMittal Kryviy Rih”, Ukraine’s largest steelmaking plant, today announced its 2010 annual results.

Key Highlights:

• Shipments: 5 368 184 tones compared to 4 436 000 tones in 2009

• Steel production: 6 133 700 tones compared to 5 039 000 tones in 2009

• Revenues reached 23.48 bln UAH, up to 63% on 2009

• Gross profit was 4.43 bln UAH, up to 147% on 2009

• Net profit amounted to 1.2 bln UAH, whereas in 2009 the enterprise completed year with net loss in the amount 120 billion UAH.

• CAPEX increased to 1738.08 million UAH

Commenting on the results, Rinat Starkov, CEO of ArcelorMittal Kryviy Rih said: “2010 was the year of gradual overcoming crisis consequences. At this conjuncture the enterprise used the opportunities given by the market and built up volumes of production of main products by 20%. It is also important we have launched the full-scaled modernization program which was suspended in 2009 and we’ve launched some important projects. The largest one was the construction of our first CC-machine. In 2010 we started to rebuild organizational structure of the enterprise to create effective business of the Western model.

And although the most important issues related to legal proceedings in 2010, are already behind us, many questions affecting our business remain relevant: non-return of the VAT and an advanced profit tax payment, increasing number of inspections by state regulatory agencies.

“It impacts on investment attraction of the country, because OJSC “ArcelorMittal Kryviy Rih”, as a greatest foreign investor in the country, remains an indicator of investment climate in Ukraine”.