Alchevsk Steel turns EBITDA positive in 2011
19 April 2012
Achevsk Iron & Steel (ALMK UK) saw its EBITDA turn positive to USD 146 mln in 2011 (EBITDA margin of 6%), up from negative USD 15 mln a year earlier, according to a filing yesterday. Revenue during the period rose 75% yoy to USD 2,340 mln. Net income was USD 36 mln, vs. a USD 128 mln net loss in 2010. Total debt grew 44% yoy to USD 914 mln, implying net debt of USD 878 mln and a notably high 6x net debt to EBITDA ratio.
