PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019.
Q1 2019 GROUP HIGHLIGHTS
- Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in the previous quarter. Crude steel production grew to 3.04 mln tonnes (Q4 2018: 2.94 mln tonnes) reflecting an increase in pig iron production and production growth of EAF billets.
- Consolidated steel product sales increased 3% q/q to 2.83 mln tonnes in Q1 2019 (Q4 2018: 2.76 mln tonnes), following short-term maintenance works at rolling-mill facilities in the previous quarter and an increase in productivity of aggregates. The share of domestic sales rose to 65% due to their increased attractiveness of domestic sales (Q4 2018: 62%).
- The share of high value-added (HVA) products within the sales portfolio remained flat at 44% (Q4 2018: 44%), driven by a decline in sales of semi-finished products, which was offset by higher sales of galvanised, colour coated and hot rolled thick plate.
- Coking coal concentrate sales volumes from Vorkutaugol declined 1% due to long-wall repositionings at Vorgashorskaya, Zapolyarnaya and Komsomolskaya mines, but remained at historically high levels reflecting the high production rate.
- Iron ore pellet sales declined 4% to 2.83 mln tonnes (Q4 2018: 2.94 mln tonnes) as a result of lower production volumes in Q1 2019 and a stock sell-off in the previous quarter.
SUMMARY OF KEY PRODUCTION, SALES VOLUMES
Production, thousands of tonnes | Q1 2019 | Q4 2018 | Change, % | Q1 2019 | Q1 2018 | Change, % |
Crude Steel (Russian Steel) | 3,044 | 2,941 | 4% | 3,044 | 3,033 | 0% |
Hot metal (Russian Steel) | 2,363 | 2,233 | 6% | 2,363 | 2,347 | 1% |
Sales volumes, thousands of tonnes | Q1 2019 | Q4 2018 | Change, % | Q1 2019 | Q1 2018 | Change, % |
Coking coal concentrate | 1,031 | 1,043 | (1%) | 1,031 | 628 | 64% |
Iron ore pellets | 2,832 | 2,943 | (4%) | 2,832 | 2,377 | 19% |
Iron ore concentrate | 1,301 | 1,430 | (9%) | 1,301 | 1,292 | 1% |
Total steel products (Consolidated) | 2,832 | 2,755 | 3% | 2,832 | 2,864 | (1%) |
Total steel products (Russian Steel) | 2,843 | 2,766 | 3% | 2,843 | 2,874 | (1%) |
High value added steel products, % | Q1 2019 | Q4 2018 | Change, % | Q1 2019 | Q1 2018 | Change, % |
Severstal (Consolidated) | 44% | 44% | (0 ppts) | 44% | 45% | (1 ppts) |
Severstal Russian Steel | 44% | 44% | (0 ppts) | 44% | 45% | (1 ppts) |
SEVERSTAL'S CONSOLIDATED SALES (NET OF INTERCOMPANY SALES)
Sales volumes, thousands of tonnes | Q1 2019 | Q4 2018 | Change, % | Q1 2019 | Q1 2018 | Change, % | |
Coal: | 532 | 544 | (2%) | 532 | 404 | 32% | |
Coking coal concentrate | 157 | 169 | (7%) | 157 | 46 | n/a | |
Steam coal | 375 | 375 | 0% | 375 | 358 | 5% | |
Iron ore: | 1,656 | 2,128 | (22%) | 1,656 | 1,441 | 15% | |
Iron ore pellets | 1,302 | 1,871 | (30%) | 1,302 | 1,188 | 10% | |
Iron ore concentrate | 354 | 257 | 38% | 354 | 253 | 40% | |
Semi-finished products | 121 | 157 | (23%) | 121 | 256 | (53%) | |
Rolled products: | 2,311 | 2,185 | 6% | 2,311 | 2,166 | 7% | |
Hot-rolled coil | 1,102 | 1,017 | 8% | 1,102 | 963 | 14% | |
Hot-rolled plate | 233 | 210 | 11% | 233 | 198 | 18% | |
Cold-rolled coil | 275 | 296 | (7%) | 275 | 389 | (29%) | |
Galvanised and metallic coated coil | 237 | 207 | 14% | 237 | 198 | 20% | |
Colour coated coil | 102 | 97 | 5% | 102 | 67 | 52% | |
Long products | 362 | 358 | 1% | 362 | 351 | 3% | |
Downstream products: | 400 | 413 | (3%) | 400 | 442 | (10%) | |
Metalware products | 126 | 136 | (7%) | 126 | 128 | (2%) | |
Large diameter pipes | 97 | 107 | (9%) | 97 | 119 | (18%) | |
Other tubes, pipes, formed shapes | 177 | 170 | 4% | 177 | 195 | (9%) |
Notes: All production data is reported in thousands of tonnes;
Sales prices are stated on EXW basis;
Segmental data includes intercompany sales;
Semi-finished products include pig iron, slabs, billets, ingots, steel casting and forgings;
Large diameter pipes include all pipes with a diameter between 820 and 1420 mm.
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OAO Severstal published this content on 12 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 12 April 2019 06:27:02 UTC