In the first half of 2012 JSC Severstal saw a reduction in net profit under IFRS by 49.1 percent to USD582 million from USD1.143 billion in the same period of the previous year, the company said.

The company’s revenues for the period decreased by 2.2 percent to USD7.397 billion, compared to USD7.566 billion a year earlier.

The gross profit decreased by 24.4 percent to USD1.844 billion compared to USD2.439 billion for the same period of 2011. The EBITDA decreased by 31.9 percent to USD1.226 million.