MOSCOW Feb 27 Severstal, Russia's
second-biggest steel producer, posted a fourth-quarter net loss
of $74 million on Thursday due to an asset impairment of $349
million and forex losses of $83 million.
Excluding the non-cash items, Severstal would have had a net
profit of $358 million in the fourth quarter, it said in
statement. A Reuters poll of analysts predicted profit of $216
million for the period.
The firm, controlled by billionaire Alexei Mordashov, said
earnings before interest, taxation, depreciation and
amortisation (EBITDA) were up 12.5 quarter-on-quarter at $611
million, while revenue increased 6 percent to $3.4 billion.
(Reporting by Svetlana Burmistrova; Writing by Polina Devitt,
editing by Elizabeth Piper)