FY 2015 HIGHLIGHTS
• Strong free cash flow of US$799 million (FY 2014: US$1,012 million)
• Continued reduction in net debt: US$5.3 billion (FY 2014: US$5.8 billion)
• Cost saving of US$374 million due to ongoing productivity improvements and cost-cutting initiatives
• Consolidated EBITDA of US$1,438 million (FY 2014: US$2,355 million). Down 38.9% due to weaker commodity prices partly offset by lower expenses in US dollar terms due to rouble depreciation
• EBITDA margin of 16.4% (FY 2014: 18.0%): 1.6 percentage points lower than in FY 2014 as a result of the cost-efficiency programme and market initiatives
• Net loss was US$719 million vs. US$1,278 million in 2014 mostly due to impairment of assets (US$441 million) and foreign exchange loss (US$367 million)
• Secure position as one of the lowest-cost producers of steel and raw materials in Russia:
o cash cost of slabs decreased to US$193/t from US$266/t in FY 2014
o cash costs of washed coking coal of US$31/t (FY 2014: US$46/t)
o cash costs of iron ore products (58% Fe content) of US$30/t (FY 2014: US$47/t)
