Chelyabinsk Zinc Plant makes 866 mln rubles in H1 IFRS net profits
MOSCOW. Oct 12 (Interfax) - OJSC Chelyabinsk Zinc Plant (CZP) ended the first half of this year with net profits to International Financial Reporting Standards (IFRS) of 866 million rubles, the company reported.
Earnings before taxes, depreciation and amortization (EBITDA) came to 1.5 billion rubles and sales revenues 6.45 billion rubles, the company said.
CZP financial highlights (mln rubles):
| 2011 | 2010 | Change, % | |
| Sales revenue | 6 445 | 5 532 | 17% |
| Gross profit | 1 778 | 1 613 | 10% |
| EBITDA | 1 508 | 1 397 | 8% |
| EBITDA margin, % | 23% | 25% | |
| Pretax profit | 1 077 | 875 | 23% |
| Net profit | 866 | 678 | 28% |
Analysts told Interfax in a consensus forecast that they thought CZP would turn profit of 826 million rubles, EBITDA - 1.507 billion rubles and revenue - 6.199 billion rubles in H1 2011.
CZP produces 64% of Russia's zinc.
Urals Mining and Metals Company (UMMC) teamed up with Russian Copper Company to take CZP over in the fall of 2009. They acquired 100% of NF Holdings B.V., which owns 58% of CZP. CZP has said UMMC owns 47% of NF Holdings and that RCC owns 37%.
CZP has shares traded on Russia's MICEX exchange and Global Depositary Receipts (GDR) on the LSE.
