Last $0.87 USD
Change Today -0.0171 / -1.94%
Volume 297.6K
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As of 1:40 PM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

mechel-sponsored adr (MTL) Key Developments

Mechel Enters into Debt Rescheduling with Gazprombank

Mechel has provisionally agreed debt rescheduling with Gazprombank. The agreement will see $170 million in repayment of loan principal moved to next year.

Mechel Revises Capex Guidance for 2014

Mechel revised capex guidance for 2014. The company has again announced a cut in its investment plans for 2014, previously expected to total $220 million. The company had initially planned capex of up to $930 million in 2014, including $720 million for the development of the Elga coal field in Yakutia. However, these expenditures should be covered by project financing from state development bank VEB. The company expected to invest $200 million-$220 million in other projects, including $110 million in its metallurgy division and $90 million in its mining division. The group's investment program for this year would total an estimated $222 million, including about $114 million for maintaining capacity. The initial capex plan for 2014 was $600 million, but it was later slashed to $300 million.

Mechel OAO Reports Earnings Results for the Second Quarter and First Half of 2014

Mechel OAO reported earnings results for the second quarter and first half of 2014. For the quarter, the company reported revenue from external customers was USD 1,744 million compared to USD 1,700 million a year ago. Adjusted operating income was USD 41 million compared to adjusted operating loss of USD 25 million a year ago. EBITDA was USD 171 million compared to USD 79 million a year ago. Net loss attributable to shareholders of the company was USD 63 million compared to USD 585 million a year ago. Adjusted net loss was USD 37 million compared to USD 474 million a year ago. For the first half of 2014, revenue from external customers was USD 3,444 million compared to USD 4,623 million a year ago. Adjusted operating income was USD 17 million compared to USD 143 million a year ago. EBITDA was USD 250 million compared to USD 406 million a year ago. Net loss attributable to shareholders of the company was USD 648 million compared to USD 2,120 million a year ago. Adjusted net loss was USD 511 million compared to USD 391 million a year ago. In first half of 2014 capital expenditure amounted to USD 276 million, with the mining division accounting for USD 244 million, the steel division for USD 30 million and the power division for USD 2 million. Adjusted EBITDA was USD 250,483,000 compared to USD 405,665,000 a year ago. Net loss from continuing operations was USD 654,346,000 compared to USD 1,213,315,000 a year ago.

Mechel OAO to Report First Half, 2014 Results on Oct 14, 2014

Mechel OAO announced that they will report first half, 2014 results on Oct 14, 2014

Mechel OAO, H1 2014 Earnings Call, Oct 14, 2014

Mechel OAO, H1 2014 Earnings Call, Oct 14, 2014

 

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