Annual Report & Accounts 2013
Severstal Annual Report 2013 Home > Performance > Severstal Resources

Severstal Resources

Severstal Resources manages all of Severstal’s mining assets, forming the basis of Severstal’s vertically integrated business model. It satisfies almost all of the iron ore and hard coking coal requirements of Severstal Russian Steel and Severstal International divisions’ steel operations, while also selling increasing volumes to third parties.

Severstal Resources mines iron ore and coking coal in Russia, and operates a coking coal complex in the USA. The coal businesses are among Russia’s top five coking coal producers, while the iron ore businesses are leaders by extraction volume in their respective markets.

The key focuses for Severstal Resources in 2014 are cost control and removal of bottlenecks with parallel growth in volumes.

Revenue in 2013 (US$ million)

EBITDA in 2013 (US$ million)

CEO statement

Our strategic goal remains the same: we aim to be a leader in value creation. In the current volatile and challenging market environment, this means the ability to generate solid positive free cash flow throughout the market cycle.

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Chairman statement

Since listing we have been committed to the highest standards of corporate Governance and aim for full compliance with the UK Corporate Governance Code.

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Performance review 2012

Severstal achieved a solid set of results in 2012, despite worsening economic conditions, maintaining the Group’s EBITDA margin at 15.0%, reflecting the resilience of the business.

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Performance review 2012 - Severstal Resources

Our strong asset base enables us to capture excellent margins and generate significant free cash flow in strong markets, but it is also resilient enough to provide positive results even in the current weak markets.

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