This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mechel Reports The 9M 2012 Financial Results

Stocks in this article: MTL

Ferroalloys Segment Results For The 9M 2012

US$ thousand  9M 2012 (1)  9M 2011   (1) Change Y-on-Y
Revenue from external customers 348,114 359,366 -3.1%
Intersegment sales 72,980 183,194 -60.2%
Operating loss (193,592) (8,983) 2,055.1%
Net loss attributable to shareholders of Mechel OAO (204,782) (32,437) 531.3%
Adjusted net loss (1) (2) (121,784) (32,437) 275.4%
Adjusted EBITDA (1) (3) (18,022) 57,102 --
Adjusted EBITDA, margin (4)   -4.28% 10.52% --
(1)   See Attachment A.
(2)   Adjusted net loss is net loss adjusted for effects of impairment of long-lived assets and goodwill and provision for amounts due from related parties (including income tax and amounts attributable to noncontrolling interests effects) 
(3)   Adjusted EBITDA is EBITDA adjusted for effects of remeasurement of contingent liabilities at fair value, forex gain/(loss), net result on the disposal of non-current assets, impairment of long-lived assets and goodwill, provision for the loan given to related parties, amounts attributable to noncontrolling interests and interest income 
(4)   Adjusted EBITDA margin is calculated as a percentage of consolidated revenues of the segment, including intersegment sales.
US$ thousand  3Q 2012 (1)  2Q 2012 (1) Change Q-on-Q
Revenue from external customers 91,007 132,376 -31.3%
Intersegment sales 23,025 22,141 4.0%
Operating loss (24,525) (135,297) -81.9%
Net loss attributable to shareholders of Mechel OAO (41,688) (107,055) -61.1%
Adjusted net loss (1) (2) (41,688) (24,057) 73.3%
Adjusted EBITDA (1) (2) (3,144) (7,381) -57.4%
Adjusted EBITDA, margin (3)   -2.76% -4.78% --
(1)   See Attachment A.
(2)   Adjusted net loss is net loss adjusted for effects of impairment of long-lived assets and goodwill and provision for amounts due from related parties (including income tax and amounts attributable to noncontrolling interests effects) 
(3)   Adjusted EBITDA is EBITDA adjusted for effects of remeasurement of contingent liabilities at fair value, forex gain/(loss), net result on the disposal of non-current assets, impairment of long-lived assets and goodwill, provision for the loan given to related parties, amounts attributable to noncontrolling interests and interest income .
(4)   Adjusted EBITDA margin is calculated as a percentage of consolidated revenues of the segment, including intersegment sales.

Product Sales :

Product name 9M 2012, thousand tonnes 9M 2011, thousand tonnes 9M 2012 vs. 9M 2011, %
Nickel 11 12.5 -12%
Including nickel supplied to Mechel enterprises 2 4.6 -56%
Ferrosilicon 57 65.8 -13%
Including ferrosilicon supplied to Mechel enterprises 22 22.2 -1%
Chrome 53 43.3 22%
Including chrome supplied to Mechel enterprises 6 12.9 -53%

The ferroalloy segment's revenue from external customers in 3Q2012 amounted to $91.0 million, or 3% of consolidated net revenue, a decrease of 31.3% compared with the segment's revenue from external customers of $132.4 million or 4% of consolidated net revenue, in 2Q2012.

6 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs