Evraz posts H1 net loss of $122 mln

MOSCOW Thu Aug 29, 2013 2:29am EDT

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MOSCOW Aug 29 (Reuters) - Russia's largest steelmaker Evraz posted on Thursday a first-half net loss of $122 million, in line with analyst expectations, attributing the loss to weak prices for steel.

The company, controlled partly by Chelsea soccer club owner Roman Abramovich, said revenue fell 3 percent to $7.4 billion, while consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 21 percent to $939 million.

The firm, which paid a first-half dividend in 2012, said it had recommended its board not pay an interim dividend for the first half of 2013.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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