London Stock Exchange welcomes Severstal to celebrate its 10 year listing anniversary
On 1st November, on the morning of its annual London Capital Markets Day, Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, is opening the Markets of the London Stock Exchange to mark the company’s 10th anniversary of its GDR listing.
Alexey Mordashov, Chairman of the Board, said: ‘Our listing in 2006 was a significant milestone for Severstal, as the new requirement to comply with LSE regulation drove us to make significant and ongoing improvements across our business. It was then that we defined our strategy to be the leader in value creation through innovation and excellence across all areas of our operations. Today I can confidently say that the company has transformed itself into a world-class business and one of the most efficient steel companies globally. Despite a changing global environment, Severstal shows resilience and continuously delivers solid returns to its shareholders.’
Severstal is a vertically integrated steel and steel-related mining company with major assets in Russia, as well as investment in other regions. The Company’s operations began in 1955 at the Cherepovets Steel Mill in Russia. Severstal’s strategy is to maximise shareholder value by building a healthy and high quality business that will generate higher than market average earnings throughout the economic cycle. In 2015, Severstal produced 11.45 mln tonnes of crude steel, reported revenue of $3,396 mln and EBITDA of $2,096 mln. The company also became a global leader by EBITDA margin 32.8% in 2015.