An interim dividend of US$437.1 million (US$0.30 per share) has been declared by Evraz, reflecting the Board's confidence in the Group's financial position and outlook.
Other financial highlights include:
• Robust free cash flow of US$1,020 million (FY2019: US$1,456 million)
• Continued reduction in net debt: US$3,356 million (FY2019: US$3,445 million)
• Total EBITDA effect from cost-cutting and customer focus initiatives of US$426 million in 2020
• Consolidated EBITDA of US$2,212 million, down 15.0% from US$2,601 million in FY2019, EBITDA margin up to 22.7% from 21.8%
• Net profit increased to US$858 million vs. US$365 million in FY2019
• Cash-costs:
o cash cost of slabs decreased to US$213/t from US$236/t in FY2019 due to lower raw material prices (iron ore, coal, ferroalloys), better raw material yield and mix, lower auxiliary, services and repairs costs
o cash costs of coal concentrate decreased to US$31/t (FY2019: US$35/t) mainly as a result of rouble depreciation
o cash costs of iron ore products decreased to US$36/t (FY2019: US$41/t) mainly by rouble depreciation, higher iron ore production volume and lower fixed costs
