PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's leading steel and steel-related mining companies, today announces its Q4 and FY 2015 financial results for the period ended 31 December 2015.

Q4 2015 vs. Q3 2015 ANALYSIS:

§ Group revenue decreased 16.1% q/q to $1,396 million (Q3 2015: $1,663 million). This primarily reflects a further decline in average selling prices and seasonally weaker sales volumes at Russian Steel. The decline was partially offset by an improved performance within the Resources division.

§ Despite the group EBITDA margin compressing 2.8 ppts q/q to 28.7% (Q3 2015: 31.5%), it remained one of the highest in the industry. Group EBITDA decreased 23.5% q/q to $401 million (Q3 2015: $524 million);

§ The net loss of $114 million (Q3 2015: $130 million) reflects a FX loss of $208 million and non-current assets impairment of $173 million. Adjusting for these non-cash items, Severstal would have posted an underlying net profit of $267 million (Q3 2015: $394 million excluding FX losses and non-current assets impairment);

§ Free cash flow decreased 49.9% q/q to $305 million (Q3 2015: $609 million), while strong free cash flow remained a strategic focus;

§ Cash outflow on capex of $122 million, 18.4% higher q/q (Q3 2015: $103 million);

§ Recommended dividend payment of 20.27 RUB per share for the three months ended 31 December 2015.

The full version of the release

OAO Severstal issued this content on 03 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 February 2016 07:19:25 UTC

Original Document: http://www.severstal.com/eng/ir/disclosure/rns/document13265.phtml