The consolidated net profit of OAO Severstal-auto in accordance with the IAS for the first half of 2006 has increased to $ 25 million

The EBITDA index has grown by 38 % – to $ 72 million (in comparison with $ 52 million – in the first half of 2005). The company’s proceeds calculated in accordance with international standards were $ 538 million in January-June 2006, which were higher by 36 % than a year before.

As Nikolay Sobolev, Financial Director of OAO Severstal-auto told, the automobile construction segment of the holding, and in particular, the sales growth of a new off-roader – UAZ PATRIOT, had made the principal contribution into the increase of financial indices in the first half year of 2006. Besides, the company’s successful result, according to N. Sobolev, was reached due to the implementation of integrated cost saving programmes at Severstal-Auto enterprises.