UPDATE 1-Russia's Mechel returns to profit in Q2
* Q2 net income $219.3 mln vs Q1 loss of $691 mln
* Revenue $1.28 bln, up 8.6 pct on Q1
* EBITDA $370.0 mln, vs negative Q1 EBITDA
* Net debt as of June 30 $5.1 bln, total debt $5.9 bln
* Worst part of 2009 over for mining business - senior vp
(Adds details, quote)
MOSCOW, Nov 9 (Reuters) - Mechel (MTL.N), Russia's largest coking coal miner, reversed two successive quarterly losses by posting a $219 million net profit in the three months to June as steel production returned to pre-crisis levels.
New York-listed Mechel said on Monday the worst part of 2009 was already behind its mining business after the group, controlled by billionaire Igor Zyuzin, brought in second-quarter revenue 8.6 percent higher than in the preceding three months.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) reached $370.0 million, versus a negative $474.3 million in the first quarter of 2009.
"For our mining segment, the worst part of 2009 is over and we will witness only improvement of the segment's performance," Mechel's senior vice-president, Vladimir Polin, said in a statement.
Zyuzin said in the same statement Mechel had refinanced its debts with a syndicate of international banks. Net debt stood at $5.1 billion as of June 30 and total debt was $5.9 billion, the company said.
Mechel, Russia's sixth-largest steel maker, had posted a net loss of $690.7 million in the first quarter of 2009. (Editing by David Holmes)
