Mittal Steel Kryvy Rig 8M06 Sales Up 23.2%.

The company (KSTL: BUY) reported a 41.7% yoy increase in sales in August, to $258 mln. Sales in Jan-Aug were $1,802m, up 23.2% yoy. For the period, KSTL produced 12.96m mt of iron ore (up 12.2% yoy), 1.8m mt of coke (up 2.6% yoy), 5m mt of iron ore concentrate (up 9.8% yoy), 7.5m mt of sinter (up 15.2% yoy), 4.9m mt of crude steel (up 8.7% yoy) and 4.5m mt of rolled steel (up 14.1% yoy). Andriy Gostik: The company keeps outperforming its Ukrainian peers thanks to more efficient management installed by Mittal and by virtue of its vertical integration and synergies with other Mittal units in Poland and Kazakhstan. Top-line improvement is in line with our end-of-year sales projection for 2006 of $2,620m (up 21.5% yoy).