19 Apr 2011 12:43

NLMK ups output 3% to 2.9 mln tonnes in Q1

MOSCOW. April 19 (Interfax) - OJSC Novolipetsk Steel (NLMK) increased steel production 3.6% year-on-year to 2.9 million tonnes in the first quarter.

A company statement says that Q1 steel output was down 2.8% from the preceding quarter due to scheduled maintenance and repairs.

The company forecasts Q1 sales revenues of around $2.4 billion and an EBITDA margin of 20%-25%. Initial estimates are that the group's sales in Q2 will exceed those of Q1 thanks to rising demand among product buyers.