MOSCOW, April 26 Russian metals and mining giant
Mechel said on Wednesday it posted a net profit of 1.6
billion roubles ($28.30 million) for the fourth quarter of 2016,
versus a net loss of 2.8 billion roubles in the previous
Revenue increased 20 percent quarter-on-quarter to 79.7
billion roubles, Mechel said, and the company's earnings before
interest, taxation, depreciation and amortisation (EBITDA)
jumped 55 percent to 24.6 billion roubles.
Chief Executive Oleg Korzhov said capital expenditure would
total 12.5 billion roubles in 2017.
"The cashflow generated by the Group enables us to service
our debt, operate successfully and, if the current favourable
market situation holds, begin to decrease our debt burden," he
said in a statement.
($1 = 56.5450 roubles)
(Reporting by Jack Stubbs; Editing by Maria Kiselyova)