for the first year-end interest in of EVRAZ Highveld issuance of

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1 EVRAZ Q PRODUCTION REPORT and INTERIM MANAGEMENT STATEMENT 18 April 2013 EVRAZ plc (LSE: EVR) today releasess its operational results quarter of 2013 and the Interim Management Statement. for the first Q OPERATIONAL HIGHLIGHTS and RECENT DEVELOPMENTS: Both consolidated crude steel production and output of steel products (net of re-rolled volumes) increased by 11% due to lower downtime att steelmakingg capacities in Q compared to Q Consolidated production of finished steel goods slightly increased (+2% vs. Q4 2012) Production at EVRAZ ZSMK rail mill recommenced on 15 January 2013 following the successful completion of the modernisation project EVRAZ NTMK completed the implementation of the PCI project Consolidated outpu of iron ore products remained broadly flat at 5.2 million tonnes of saleablee iron ore products Raw coking coal production rosee by 9%, with a 14% increase at Yuzhkuzbassugol and 3% at Raspadskaya In February 2013, the t Companyy commissioned Yerunakovskaya VIII mine which has a fulll production capacity of 2.5 million tonnes of coking coal per annumm to be reached by the year-end Averagee selling prices for most key steel product groups marginallyy increased or remained flat compared to Q In January 2013, EVRAZ completed the acquisition of o an indirect controlling interest in Raspadskaya for US$964 million, payable in equity and cash consideration, bringingg effectivee interest to 82% In March 2013, EVRAZ executed a non-binding term sheet for potential sale of EVRAZ Highveld In April 2013, the Company acquired a 51% stake inn Timir, a joint venture with Alrosa, created for the development of iron ore deposits in Yakutia, Russia for ca. US$160 million In April 2013, Evraz Group S.A.,, a wholly owned subsidiary of EVRAZ, priced an issuance of US$1,000 million 7-year Eurobonds with a coupon of 6.50% per annum In Q preliminary 1 capital expenditure totalled US$ 255 million 1 Estimate as EVRAZ IFRS books are not yet closed

2 STEEL Q Q e Coke (saleable) Pig iron Pig iron (saleable) Crude steel Steel products, gross* Steel products, net of re-rolled volumes Semi-finished products** Finished products Railway products Tubular products 356 3, ,068 4,032 3, ,683 1, , ,663 3,683 3, ,629 1, % % 2.2% % (68.3)%% 11.1% % 9.5% % 10.8% % 47.1% % 2.1% % (4.4)%% 1.9% % 16.2% % (5.7)%% 17.7% % 304 3, ,327 4,150 3, ,984 1, % 3.4% 109.1% (6.0)% (2.8)% (2.6)% 27.8% (10.1)% (6.3)% (30.6)% (8.2)% 12.1% (7.9)% Note. Numbers in this table and the tables below may not add to totals due to rounding. Q * Gross volume of steell products in the tables includes those re-rolled at other EVRAZ s mills. However, such volumes are eliminated as intercompany sales for purposes of EVRAZ s consolidated operating results. ** Consolidated production volumes of semi-finished products are preliminary as intra-group re-rolling volumes are yet to be finalised In Q1 2013, EVRAZ s overall production of crude steel increased by 11% % compared to mainly due to absencee of overhauls and lengthy maintenance works at EVRAZ s Russian and Ukrainian steel mills. The resumption of operations of the EVRAZ Vitkovice steelmaking shop in the Czech Republic also contributedd to higher crude steel output in Q Consolidated production of finishedd steel goods was largely flat quarter-on-quarter, while total steel products (including semi-finished) increased by 11% % primarily due to higher output of semi-finished products in Russia.. As a result, the share of finished steel products as a percentagee of total production of steel products totalled 74% in Q compared to 80% in Q

3 RUSSIA Q Q e Q Coke (saleable) Pig iron Pig iron (saleable) Crude steel Steel products, gross Steel products, net of re-rolled volumes Semi-finished products Finished products Railway products 148 2, ,948 2,726 2,640 1,173 1, , ,755 2,498 2, ,502 1, % % 1.7% % (54.6)%% 7.0% % 9.1% % 6.8% % 20.9% % (2.3)%% (5.3)%% 4.4% % (9.9)%% 12.9% % 113 2, ,171 2,859 2,807 1,050 1,757 1, % 2.9% 120.0% (7.0)% (4.7)% (5.9)% 11.7% (16.5)% (7.1)% (40.0)% (38.5)% (0.7)% In Q1 2013, pig iron output was marginally above that of Q , as blast furnaces operated at full capacity. Meanwhile, crude steel output rebounded to normalised levels compared to Q4 2012, as the results of the latter quarter were impacted by scheduled maintenance at converterr No 4 and the billet caster at EVRAZZ ZSMK. In Q1 2013, gross production of steel products increased by b 9% vs. the previous quarter, with the volume of steel products, net of volumes re-rolled into finished products within the Russian steel mills, up by 7%. The production of saleable semi-finished goods increased by 21% as a result of higher crude steel outpu by EVRAZ ZSMK and growing demand and prices for slabss in export markets. In the reporting quarter, output of construction products decreased by weak demand for beams, including from export markets. 5% vs. Q due to In Q1 2013, production of railway products increased by 4% % compared to Q following f the commissioning of the EVRAZ ZSMK rail mill after a large-scale modernisation programme thatt ran from April 2012 to January Currently the rail mill m is in thee ramp-up stage and is expected to reach its full capacity of 950,000 tonnes of rails per annumm by Q The first 100 metre rail was re-rolled in mid-march and currently thee certificationn process is under way. The Company reiterates its production target of 720,000 tonnes of rails at the EVRAZ ZSMK rail mill in The production of coke saleable too third parties grew by 27% 2 compared to Q due to a decrease of internal coke consumption in blast furnaces att EVRAZ NTMK after the completion of PCI project. Starting from April 2013 the PCI equipment is operating in the consumption n mode of 310 kg coke and 140 kg PCI coal per tonne of pig iron i as compared to 405 kg coke per 3

4 tonne of pig iron beforee the implementation of the PCI project. In addition, the consumption of the natural gas has decreased fromm 130 m3/t to 55 m3/t off pig iron. The estimated overall cost saving effect is approximately US$10/t crude steel. In the reporting quarter the works on the PCI project commissioning expected in Q at EVRAZ ZSMK continued, with In Q2 2013, there will be a week-long maintenance workss at EVRAZ NTMK s blast furnace 6 and EVRAZ ZSMK s blast furnacee 1 that will result in lower pig iron output. However, crude steel production will not be much affected due to an improved conversion pig iron/crude steel ratio at EVRAZ ZSMK. USD/tonne (ex works) ) Coke Pig iron Steel products Semi-finished products Railway products Q Q In Q1 2013, average selling prices for most key steel product groups slightly improved quarter- on-quarter. Prices for railway products remained at a high level. NORTH AMERICA Q Q Q Crude steel Steel products, net of re-rolled volumes Railway products Tubular products (2.4)% 6.1% (8.9)% (3.2)% 31.3% (5.7)% 610 (8.0)% % 83 (1.2)% % % % In Q1 2013, EVRAZ s North American steelmaking mills continued to operate at high utilisation rates with output of steel productss improving by 6% compared to Q while crude steel production slightly decreased (-2%) as a result of somee minor unplanned outages at our steelmaking facilities. 4

5 Decrease in construction products was due to lower production of rod and bar (9,000 tonnes) as a result of constrained volumes of crude steel output. In Q1 2013, the output of railway products remained broadlyy in line with Q The increased production of flat-rolled products in Q (+31%) vs. Q was due to lower volume of rolling in the endd of 2012 to match production withh reduced demand and improve inventory levels. The flat-rolled flat-rolled products output. Production of tubular products decreased by 6% caused primarily by lower spiral large diameter and line pipe sales. Such performance is of a temporary nature as the order book for large diameter pipes and line pipes remains strong. orderr book in Q improved quarter to quarterr which resulted in higher In Q2 2013, steel output will groww to target levels as technical issues at crude steelmaking facilities have been resolved. Tubular production volumes can be affected by lower drilling activity in Canada in Q due to seasonal slowdown, as well as duee to increased imports in the North American market. USD/tonne (ex works) Q Q Railway products Flat-rolled products Tubular products , , ,059 1,068 1,5655 In Q1 2013, the pricing for EVRAZ North America s products was mixed while prices for construction and railway products followed upward movement in scrap price in the USA and Canada, prices for flat-rolled experienced somee price pressure, in particular in OCTG product group, due to some overcapacity, increased import volumes and relativelyy high inventory levels at and tubular products softened slightly following global trends. t Tubular products distributors. 5

6 UKRAINE Coke (saleable) Pig iron Pig iron (saleable) Crude steel Steel products Semi-finished products Finished products Q Q /, Q (8.8)%% 11.1% % (95.8)%% % 26.2% 0.0% % % 35.3% % 43.1% % 30.6% % 29.3% % 37.5% % % 24.9% 107.5% (0.8)% 11.6% (37.1)% In Q1 2013, crude steel productionn increased by 46% vs. Q as s in the reporting quarterr there weree no repairs in the converter shop. This resultedd in substitution of external pig iron sales by internal consumption and higher output of both finished and semi-finished steel products. The rolling facilities were running at the full utilisation rate in the reporting quarter. Overall the steel products market inn Ukraine remained strong throughout Q In Q2 2013, no major overhauls aree planned at the EVRAZ DMZ steel shop. A 45-day overhaul is scheduled in May-June at one of EVRAZ DMZ s rolling mills. USD/tonne (ex works) ) Coke Pig iron Steel products Semi-finished products Q Q

7 EUROPE Q Q e Q Crude steel Steel products, gross Steel products, net of re-rolled volumes n/ /a 10.4% % 7.4% % (46.2)%% 14.0% % 25.0% % (20.5)% (17.3)% (16.0)% (17.6)% (15.2)% (37.5)% In January 2013 the EVRAZ Vitkovice Steel ( EVS) steelmaking shop,, which was temporarily suspendedd in Q to optimisee slab inventory, resumed operationn and produced 140,0000 tonnes of crude steel in Q The agreed purchased volumes v of pig iron were sufficient to cover the needs of the steel shopp from January to March 2013, and from April 2013 EVS steelmaking shop has been idled again, as EVRAZ continues to run its steelmaking operation in Czech Republic in on-and-off mode to adjust the business to changing markett conditions. However the rolling mills at EVS continued to operate irrespective of output of own crude steel. Production of steel products in Q increased compared to Q by 10% %, while flat- rolled product output increased byy 14%, production of construction products fell by 12,0000 tonnes due to overhaul of the EVS heavy section mill in mid- March In Q1 2013, output of flat-rolled products at EVRAZ Palini e Bertoli in Italy remained largely flat vs. Q amounting to 100,000 tonnes of plate. Prices for Q products off EVRAZ Europe were largely und in Q compared to USD/tonne (ex works) ) Steel products Q Q

8 SOUTH AFRICA Q Q e Q Pig iron Crude steel Steel products Semi-finished products Finished products (1.1)%% % % % % n/ /a 0.8% % (8.9)%% % % % % 10 (11.2)% (0.6)% (16.2)% n/a (8.8)% (26.8)% 5.7% (10.0)% In Q output of crude steel at EVRAZ Highveld Steel and Vanadium improved by 5% vs. as EVRAZ Highveld largely overcamee the negative impact of f an industrial action and a transportation strike in The production of flat-rolled products increased by 4% due to improved demand for plate and coill in South Africa. USD/tonne (ex works) Q Q Steel products Semi-finished products Flat-rolled products

9 MINING IRON ORE Iron ore products Concentrate, saleable (Russia) Sinter (Russia) Pellets (Russia) Lumpy ore (Ukraine) Fines ore (South Africa) Lumpy ore (South Africa) Q Q / Q ,203 1,230 1,198 1, ,1322 1,3311 1,2300 1, % % (7.6)%% (2.6)%% (1.8)%% 19.1% % (1.2)%% 48.6% % 5,204 1,2888 1,209 1, % (4.5)% (0.9)% (0.7)% (5.9)% 4.5% 44.1% Overall production of saleable ironn ore products by the Company remained largely flat in Q compared to Q In Q1 2013, production of saleablee concentrate in Russia decreased by 8% compared to Q as a result of lower Fe grades in the ore mined at EVRAZ VGOKK and preparation for the closure of Irba mine of Evrazruda, which is expected in mid Volumes of sinter and pellets produced at the Russian operations in Q were marginally lower compared to Q due to a number of unscheduled minor repairs. One of the highlights of the reporting quarter was the t state approval of the project documentation on the development t of the Sobstvenno-Kachkanarskoe deposit which clears the way for the start of construction works. EVRAZ Sukha Balka production off lumpy ore in Q grew by 19% % vs. Q with the results of the latter quarter beingg affected by a repositioning of a skip conveyor at the Yubileynaya mine that continued from mid-september to mid-novemberr The outputt of iron ore products att Mapochs mine of EVRAZ Highveldd significantly improved, while volumes of fines ore were flat in Q vs. the production of lumpy ore increased by 49%. Prices for pellets and saleable concentrate in Russia demonstrated positive dynamics in Q compared to while selling prices for sinter remained und. USD/tonne (ex works) ) Iron ore products Concentrate, saleablee (Russia) Sinter (Russia) Q Q

10 USD/tonne (ex works) ) Pellets (Russia) Lumpy ore (Ukraine) Fines ore (South Africa) Q Q COAL* / Q Q , Q Raw coking coal (mined) Yuzhkuzbassugol Raspadskaya Coking coal concentrate (production) Produced at Yuzhkuzbassugoll coal washing plants Produced at EVRAZ ZSMK coal washing plant Produced at Raspadskaya coal washing plant Raw steam coal (mined) Steam coal concentratee (production) 4,751 2,490 2,261 3,382 1, , ,372 2,181 2,191 3, , % % 14.2% % 3.2% % 12.7% % 41.0% % (3.6)%% 2.3% % (97.0)%% (87.3)%% 3,669 2,078 1,5911 2,679 1, % 19.8% 42.1% 26.2% 12.8% 14.0% 48.8% (59.6)% (50.0)% * Includes 100% of Raspadskaya s production volumes, pro forma numbers for 2012 Coking coal In Q1 2013, raw coking coal production at Yuzhkuzbassugol increased by 14% compared to Q4 2012, due to increased production at the Alardinskaya andd the Yesaulskaya mines, the launch of a new longwall at the Osinnikovskaya mine and commissioning of the Yerunakovskaya VIII mine, all of which offset the loss of some production as a result of a longwall repositioning at the Abashevskaya mine in the reportingg quarter. Tragically a flood at the Ossinikovskaya mine in March 2013 killed 4 people. Consequently, the mining operations weree suspended. The estimated loss of raw coking coal mined is ca. 120,0000 tonnes, which will be covered fromm the above ground stockpile. Production is expected to re- commencee at the end of April. The Alardinskayaa mine resumed operation in mid-april after a fire which caused only minor damage and briefly halted operations. Higher mining volumes of raw coking coal led to higher production of coking coal concentrate. Besides, the increase is also attributable to the start of coal processing at 3 rd party coal washing plants, processing of raw coal from stock after debottlenecking, as well as operational improvements such as better concentration yields. 10

11 Production of raw coking coal by the Raspadskaya coal company c wass 3% higherr quarter-on-- quarter as mining at the Raspadskaya underground mine m continued with two longwalls. Production of coking coal concentrate by Raspadskaya was w in line with volumes of raw coal mined. In June 2013, the Uskovskaya mine is expected to suspend mining for r a longwall repositioningr that will last approximately two months. Steam coal Production of raw steam coal decreased by 97% in Q vs. Q due to a combinationn of two factors: suspension of mining at the Gramoteinskaya mine as a result of a fire in November 2012 and longwall repositioning at the Kusheyakovskaya mine that started in December 2012 and continued throughout Q Steam coal concentratee production decreased due to lower output of raww steam coal. In Q2 2013, steam coal production is expected to rebound following the end of repositioning of a longwall at the Kusheyakovskaya mine. The Gramoteinskaya mine is to remain suspended. USD/tonne (ex works) ) Raw coking coal Raw steam coal Coking coal concentrate Steam coal concentrate Q Q

12 VANADIUM Product, tonnes of V* Vanadium in slag (gross production) Russia South Africa Vanadium in final products (saleable) Ferrovanadium Produced at own facilities f Processed at 3 rd parties facilities Nitrovan Oxides, vanadium aluminium and chem- icals * Calculated in pure vanadium equivalent. Q Q ,363 5, % 6,026 (11.0)% 3,735 3, % 3,879 (3.7)% 1,628 1, % 2,147 (24.2)% 3,188 2, % 4,542 (29.8)% 1,872 1, % 2,082 (10.1)% 1,317 1, % 2,460 (46.5)% (6.7)% % 491 Q Q1 2013/ Q1 2012, % % In Q1 2013, EVRAZ s total t production of primary vanadium (vanadium in slag) increased by 4% compared to mainly as a result of higher crude steel s production at EVRAZ Highveld Steel and Vanadium. Total ferrovanadium production increased by 15% due to better b slag availability in South Africa and record production at EVRAZ Vanady Tula. Production of oxides, vanadium aluminium and chemicals grew in Q compared to Q due to resumed EVRAZ Stratcor operations at the end of January. USD/tonne of V (ex works) Q Q Vanadium in final products Ferrovanadium Nitrovan Oxides, vanadium aluminium andd chemicals 28,814 30,690 33,266 23,579 26,912 36,024 23,109 26,521 31,241 Notes: Semi-finished products include slabs,, billets, pipe blanks and other semi-finished products. include beams, channels, angles, rebars, wire rods, wire, and other construction c products. Railway products include rails, wheels, tyres and other railway products. include commodity plate, specialty plate and other flat products. 12

13 Tubular products include large diameter line pipes, ERW pipes and casings, seamless pipess and other tubular products. include rounds, grinding balls, mine uprights, strips etc. For Ukraine they also include railway products, for f Europe slabs and cut shapes; for South Africa rails. ### For further information: Media Relations: Oleg Kuzmin VP, Corporate Communications London: Moscow: media@evraz.com Investor Relations: Sergey Belyakov Director, Investor Relations London: Moscow: ir@evraz.com EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Fed- eration, Ukraine, USA, Canada, Czechh Republic, Italy and Southh Africa. EVRAZ is among the top steel producers in the world based on crudee steel production of 15.9 million tonness in In 2012 EVRAZ sold 15.3 million tonnes of steel products. A significant portion off the company's internal consumption of iron ore and coking coal iss covered by its mining operations. The company's c consolidated revenues for the year endedd 31 December 2012 were US$14,726 million, andd consolidated EBITDA amounted to US$2,012 million. 13