Earnings at Novolipetsk Steel (NLMK), Russia's largest steelmaker, soared by 52% year-on-year in the second quarter of 2018 on better prices and increased sales volumes, the company said in a financial report on Tuesday July 31.
In April-June, NLMK's earnings before interest, taxes, depreciation and amortization (Ebitda) totaled $915 million, against $603 million in the corresponding period last year, and $812 million in January-March 2018.In Russia, NLMK operates a flat steel complex in Lipetsk, as well as two long steel mills - Nizhniye Sergi in the Sverdlovsk region and another in the Kaluga region.The company also runs flat steel re-rolling facilities in Denmark, Belgium and the United States.The largest share of Ebitda was generated by the Russian flat steel division, where earnings were $612 million in second quarter, increasing...