Given the performance throughout 2021, EVRAZ has announced an interim dividend.
On 4 August 2021, the Board of Directors voted to disburse a total of US$802.3 million, or US$0.55 per share.
The record date is 13 August 2021 and payment date is 10 September 2021.
The interim dividend will be paid in US dollars, unless a shareholder elects to receive dividends in UK pounds sterling or euros. The last date for submitting a currency election will be 16 August 2021. All conversions will take place on or around 18 August 2021.
Other financial highlights include:
• The Group reported solid free cash flow of US$836 million, compared with US$315 million in H1 2020.
• Consolidated EBITDA totalled US$2,082 million, up 94.0% YoY from US$1,073 million in H1 2020. The EBITDA margin rose to 33.7% from 21.5% in H1 2020. Supporting factors included higher steel, vanadium and coal product sales prices. Cost-cutting and customer focus initiatives also generated an effect of US$256 million in EBITDA.
• Total debt dropped by US$307 million to US$4,676 million, while net debt fell by US$95 million to US$3,261 million.
• Net profit totalled US$1,212 million, compared with US$513 million in H1 2020.
• The cash cost of steel and raw materials in Russia was the following:
o The cash cost of slabs increased to US$283/t from US$210/t in H1 2020
o The cash cost of washed coking coal increased to US$36/t from US$34/t in H1 2020
o The cash cost of iron ore products increased to US$40/t from US$38/t in H1 2020