Earnings at Russian steelmaker Severstal rose by 22.1% year-on-year in the first quarter of 2018 amid a favorable pricing environment for steel and commodities, the company said on Tuesday April 17.
Earnings before interest, taxes, depreciation and amortization (Ebitda) increased to $706 million in January-March 2018, compared with $578 million in the corresponding period last year.The company's revenue totaled $2.17 billion in the first quarter of 2018, up by 23% against $1.77 billion in 2017."Our financial performance in the first quarter of 2018 was supported by a strong export pricing environment and Severstal's flexible...