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Mechel - besserer Blue chip als Severstal?

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  • Mechel - besserer Blue chip als Severstal?

    MOSCOW, Nov 28 (Reuters) - Russian steel and mining company Mechel
    said on Tuesday its net profit grew by 18 percent year-on-year in January-September, citing greater
    efficiency and ongoing market recovery.
    Mechel's net profit rose to $372.1 million in the first nine months from $314.7 million in
    January-September 2005. Revenues expanded by 7.9 percent over the same period to
    $3.14 billion from $2.91 billion. Earnings before interest, taxation, depreciation and amortisation
    (EBITDA) grew by 17.5 percent to $668.5 million.
    Mechel's stock traded at $24.85 per share, rising by 3.33 percent at 1644 GMT.
    "We are now confident that our performance over the full year will show substantial improvement
    over last year's levels as consolidated net profit for the nine months is already close to the result of
    the whole of last year," Mechel Chief Operating Officer Alexey Ivanushkin said in a statement.
    Mechel said its EBITDA margin -- a key indicator of operational efficiency -- rose to 21.3 percent from
    19.6 percent in the first nine months of 2005.
    Mechel Chief Executive Vladimir Iorich told a teleconference with investors that the company would
    launch a new production facility in December which would allow it to boost output of value-added
    reinforcement bars by 200,000 tonnes next year.
    Ivanushkin said Mechel's iron ore output was on track to reach record production levels of 5 million
    tonnes this year, a goal originally targeted for 2007, while the company also capitalised on
    unusually high nickel prices.

  • #2
    22.03.2007 13:17

    Mar 22. Citigroup raises Mechel's ADR recommendation to Buy and target price by 18%.

    Citigroup Smith Barney has upgraded its target price for Mechel's American Depositary Receipts (ADRs) from $34 to $40, Citigroup said in a note. The ADR recommendation was lifted from Hold to Buy. Citigroup's analysts revised upward their forecast for Mechel's financial performance due to higher nickel and coal prices, which they expected, which pushed up the target price for the metal producer's ADRs. Since the upside potential for Mechel's ADRs reached 29% after the upgrade of the target price, the ADR recommendation was lifted to Buy. In accordance with the new estimates made by Citigroup's experts, Mechel's 2007 revenue will total $4,477 mln (a 3.5% increase on the previous estimate), EBITDA will reach $1,047 mln (a 13.5% advance) and net profit will surge 18.7% to $596 mln. 2008 sales are now projected at $4,434 mln (+4.5%), EBITDA at $905.70 mln (an 8% rise) and net profit at $487.1 mln (12% higher). 2009 revenue is estimated at $4,542 bln (+5%), EBITDA at $909.4 mln (a 6.2% rise) and net profit at $488.8 mln (a 9.3% advance).

    Quelle: Finam

    Kommentar


    • #3
      16.04.2007 15:22
      Mechel Announces Completion of Privatization Contract for Mechel Campia Turzii

      CAMPIA TURZII, Romania, April 16 /PRNewswire/ --

      Mechel (Nachrichten) OAO (NYSE: MTL) announces the early completion of its obligations under the privatization contract for its Romanian steel plant, Mechel Campia Turzii.

      The Authority of State Assets Recovery of Romania has formally confirmed the fulfillment of all the investment obligations undertaken by Mechel under the privatization contract in purchasing the Romanian company, Mechel Campia Turzii, which specializes in manufacturing rolled and hardware products.

      The privatization contract for Mechel Campia Turzii was originally signed on March 14, 2003. Transfer of ownership took place on June 20, 2003. Mechel has completely met all its investment obligations regarding the three investment years and fulfilled in advance its obligations regarding the fourth and fifth investment years ending on June 20, 2008. Mechel obtained from the trade unions their necessary consent, which allowed Mechel to meet the terms under the contract 13 months earlier than the date stipulated.

      Since its acquisition, Mechel has invested US$34.0 million in Mechel Campia Turzii, including investments in its technical re-equipment, environmental protection, repayment of the arrears to the budget, and payment of the shares and working capital.

      The long-term development program of the plant is currently being implemented, which includes significant investments in the modernization of its production capabilities. As a part of this implementation, a press filter to process neutralized pickling solutions was started up early this year, and the workshop for manufacturing and reconditioning of dies was upgraded in the autumn of 2006.

      In 2006, the plant's rolled product output was approximately 141.7 thousand tonnes and its hardware products output was approximately 86 thousand tonnes. In the coming years, Mechel plans to upgrade the capabilities of Mechel Campia Turzii's steelmaking production and subsequent high value added steel product manufacturing.

      "The early closing of the Mechel Campia Turzii privatization contract concludes Mechel's fulfillment of its investment obligations to the Romanian Government, trade unions, and employees of the companies," commented Mechel's Chief Operating Officer Alexey Ivanushkin. "Mechel also closed its privatization contract for its other Romanian steel plant, Mechel Targoviste, in December 2006. With these investments, Mechel is successfully executing its plans to transform formerly unprofitable assets into sustainable and profitable companies. Joint cooperation with the government of Romania enables Mechel to make future investments in the Company's Romanian assets. A strategic investment program for further developing the Romanian plants in 2007-2011 is currently being developed. The objective of this program is significant cost reduction, further modernization, and improved performance across the entire production process."

      Mechel is one of the leading Russian mining and metals companies. Mechel unites producers of coal, iron ore, nickel, steel, rolled products, and hardware. Mechel products are marketed domestically and internationally.

      Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

      Quelle: PR Newswire

      Kommentar


      • #4
        02.10.2007
        We expect strong 2Q07 US GAAP numbers ;)


        Mechel is to report its 2Q07 US GAAP numbers tomorrow. The company reported a solid 2Q07 operating update which showed continued improvements in output in both its mining and steel business. The increase in coal output was due to the commissioning of a new mine, Olzherasskaya-Novaya, last year and improving operating efficiencies at existing mines and open pits. The iron ore concentrate output was stable, in line with Korshunov Mining Plant's operating capacity. Nickel production increases in 2Q07 and strong nickel prices should reflect positively on the company's financials.

        In 2Q07F Mechel's steel segment should benefit form higher output of commercial value-added metal products and strong domestic premiums for long products. Additionally, the increase in coke production as a result of the acquisition of Moscow Coke and Gas Plant last year and the commissioning of the new coke battery at Chelyabinsk Metallurgical Plant should further add to a strong performance in 2Q07F.

        Mechel could show solid q-o-q growth in its 2Q07F US GAAP results In $mn, US GAAP 2Q06 1Q07 2Q07F % chg.
        q-o-q % chg.
        y-o-y
        Revenue 1,073 1,416 1,629 15% 52%
        EBITDA 183 381 457 20% 149%
        EBITDA margin 17% 27% 28% 1pp 11pp
        Operating profit 150 328 429 31% 185%
        Operating margin 14% 23% 26% 3pp 12pp
        Net profit 119 205 277 35% 133%
        Net margin 11% 14% 17% 3pp 6pp


        Source: Company data; Aton estimates

        The company is to hold a conference call to discuss the 2Q07 US GAAP numbers on Wednesday, October 3, at 18: 00 Moscow time (15: 00 London, 10: 00 New York). To join the conference call, please dial International: +44 20 7138 0827, US: +1 718 354 1358. Please call approximately 10 minutes prior to the scheduled time of the call.

        While Mechel currently trades close to our 12-month target price of $49.7, we are tempted not to revise our rating before the publication of 2Q07 US GAAP results as we might see better-than-expected numbers as was the case with Severstal, MMK and NLMK who all published stronger-than-forecasted 1H07 financials.

        Therefore, we reiterate our Buy rating for Mechel with 12-month target price of $49.7.


        Aton

        Kommentar


        • #5
          Mechel hat ein niedriges P/E von ca. 8.7 und ein PEG von 1.7
          Das sind werte die eine kaufempfehlung unterstützen. Allerdings ist PEG im Vergleich zu P/E hoch bewerteten Posco, Mittal etc. eher im oberen bereich und Mechel würde deshalb als gut bezahlte hold gelten.
          P/E und PEG liegen für stahlwerte im Mittel bei 11 und 1.2 resp. Beides sind vergangenheitswerte und deshalb nicht unbedingt relevant wenn die weitere
          Entwicklung der absatzmärkte unsicher ist.
          Ich werde z. Zt. gar keinen stahlwert kaufen ausser vielleicht in China. Der insgesamt 80% profit bei China Precision Steel in ca. 1 monat dürfte kurzfristige take over spekulation gewesen sein. Das kann sich mit anderen kleinen China steel werten durchaus wiederholen.

          Kommentar


          • #6
            Moskau - Der russische Stahlkonzern Evraz hat seinen Nettogewinn im Halbjahr um nahezu 100 Prozent gesteigert. Hinter dem Zugewinn stünden hohe Stahlpreise, Zukäufe und eine strikte Kostenkontrolle, teilte das Unternehmen am Freitag mit. Evraz ist der größte russische Stahlproduzent gemessen am Volumen auf dem Heimatmarkt.

            Der Nettogewinn stieg den Angaben zufolge um 98,2 Prozent auf 1,13 Mrd. Dollar (801 Mio. Euro) bei einem Umsatzplus von 57,5 Prozent auf 6,02 Mrd. Dollar. Im Gesamtjahr erwartet Evraz eine Steigerung des konsolidierten Umsatzes um 45 bis 55 Prozent.

            Die Firma, die zu 41 Prozent dem russischen Milliardär Roman Abramowitsch gehört, hat in der letzten Zeit kräftig zugekauft: Sie übernahm den US-Konkurrenten Oregon Steel Mills, das US-Unternehmen Stratcor sowie die südafrikanische Highveld Steel and Vanadium. Die Zukäufe hätten mehr als 50 Prozent zur Umsatzsteigerung im Jahresvergleich beigetragen, erklärte Evraz. (APA/Reuters)

            Kommentar


            • #7
              Nach der geglückten Auktion von heut, machte Mechel "Kohle" mit Kohle.

              Kommentar


              • #8
                $2.3B ACQUISITION
                Mechel wins more output, fast becoming a world-class coal producer

                Mechel's coal output is now approaching 30 Mt/y following its recent takeover of Yakutugol and purchase of Russia's largest known, undeveloped high quality coking coal deposit.
                Author: John Chadwick
                Posted: Tuesday , 09 Oct 2007

                LONDON -

                As the result of an auction held on October 5, 2007, Mechel acquired 75% less one share of Yakutugol OJSHC's charter capital and 68.86% of Elgaugol OAO's charter capital, for a total of RUR58.2 billion (approximately US$2.3 billion). Thus, Mechel's stake in Yakutugol increases to 100%, given that the company already held 25% plus one share in its ownership.

                Yakutugol mines mainly coking coal with some steam coal output. Its total coal output is about 10 Mt/y (more than half Mechel's current output). The coal reserves of Yakutugol's existing assets are estimated at approximately 200 Mt, according to Russian reserve valuation standards. Yakutugol is the largest Russian exporter of coking coal and sells most of its output to countries in the Pacific region, including Japan, South Korea, and Taiwan.

                Elgaugol holds the license for development of the Elga coal deposit with the total reserves of fat coking coals amounting to approximately 2,200 Mt. According to the experts' estimates, coal reserves in this region are 30,000 to 40,000 Mt. In addition, a real-estate complex owned by JSC Russian Railways was put up at the auction and acquired by Mechel. The complex includes the railway spur track from Zeisk station of the Far Eastern Railway to the Elga coal deposit and an access road from Zeisk station of the Far Eastern Railway to the Elga deposit.

                Igor Zyuzin, Mechel's Chief Executive Officer, commented: "We are pleased with our victory at the auction. By acquiring Yakutugol, we have gained control over the last operating unprivatized coal asset, concluding a three-year privatization process. Although there had been some uncertainty among some investors that Mechel would obtain control over Yakutugol, we are glad that we proved our ability to bring all our undertakings to conclusion. Yakutugol will significantly strengthen Mechel's position on the Russian and international coking coal markets. Secondly, we obtained access to the largest deposit of high quality coking coals, which lays a reliable foundation for long term development of Mechel's coal mining. With ownership of Southern Kuzbass, Yakutugol, and Elgaugol, we hope to establish a world-class modern coal mining company. We plan to ship most of the mined coal to Russian consumers including Mechel's subsidiaries."

                In 2006, Mechel produced approximately 17 Mt of coal comprising 9.7 Mt of coking coal and 7.3 Mt of steam coal.

                Quelle: Mineweb

                :cool:

                Kommentar


                • #9
                  Mechel Announces Its Victory In RZhD OAO’s Tender For Sale of the Property of Port Temryuk Production Complex

                  Moscow, Russia – January 9, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces that its Mecheltrans ООО transportation subsidiary has won the open tender held by Russian Railways OJSC (RZhD OAO) for the sale of the Port Temryuk production complex.

                  As previously announced in September 2007, Mechel OAO acquired 100% of the shares of Temryuk-Sotra seaport located on the Taman shore of the Sea of Azov. This is one of the most promising ports for small tonnage river-sea type vessels in Southern Russia due to its geographical location.

                  The tender of RZhD OAO was held on December 28, 2007 and involved the sale of the real estate assets of the Port Temryuk production complex, two land plots of about 150,000 sq. m total area.

                  Mechel Management OOO Chief Executive Officer Vladimir Polin commented on the transaction, “The acquisition of this property complex will enable us to strengthen our presence in the export shipping markets and provide us with more opportunities to efficiently manage the port’s operations and regulate logistics of our deliveries. Following complete commissioning of the real estate assets of the Port Temryuk production complex, we plan to achieve its transshipment capacity of approximately 1.5 million tonnes of cargo in 2008 and approximately 1.8 million tonnes beginning from 2009. The acquired property complex is located in immediate proximity to Temryuk-Sotra, which is already owned by Mechel. The operations of the both assets are supported by the same railway branch owned by Temryuk-Sotra and this affords us an opportunity to subsequently join these two infrastructure facilities into a high capacity port transshipment complex”.

                  Quelle: Unternehmen

                  Kommentar


                  • #10
                    Mechel Considers German IPO for Its Mining Division
                    posted on: February 11, 2008

                    Mechel (MTL) has been showing some nice relative strength of late - it has nice exposure to multiple areas of interest for me - steel, iron ore, coal. Friday's 7% move seems to be driven by news of a potential IPO for its mining division. We did discuss this in mid December [Mechel Reports Earnings, Considers Mining IPO] but now we appear to have more details.
                    Russian steel maker Mechel (MTL) is considering listing its mining division in Frankfurt in an initial public offering that could raise around $4 billion, Russian business daily Kommersant reported on Friday.
                    Mechel MTLR.RTS aimed to sell a 20 percent stake in a newly created mining division which it values at $20 billion -- considerably more than the entire company's current value.
                    New York-listed Mechel, Russia's sixth-largest steel maker, has a current market capitalisation of $8.3 billion, but has acquired extensive coal assets in the country's far east. It has since spent 58.2 billion roubles ($2.36 billion) to win access to large coal deposits in the far eastern Russian region of Yakutia. These include the Elga deposit, potentially Russia's largest coal field.
                    Mechel Mining would include the company's stakes in coal firms Yuzhny Kuzbass, Yakutugol and Elgaugol and may also include the Korshunov iron ore mining and concentrating plant, Kommersant said.
                    Mechel is still viewed as a steel maker, which is fine - since China and Russia have a relatively cozy relationship and I've viewed Mechel as a nice back door play on the needs of China infrastructure growth. It also has a lot of iron ore exposure - another hot spot in a continued "World of Shortages" scenario. But of course all these acquisitions in the coal market, make me the most happy. I continue to really like this undiscovered gem.

                    Technically, this is one of those select few stocks trading over its 50 day moving average, and in fact is only about 5% below its all time high. It has been beaten to a pulp during the January sell off (down to low $70s), but I surmise when the day comes the market regains its footing, this is the type of stock to shoot off like a cannon.
                    Disclosure: Long Mechel in fund; no personal position

                    http://bp0.blogger.com/_vIR9lEpVYYw/...1600-h/mtl.png

                    Quelle: Seeking Alpha
                    Angehängte Dateien

                    Kommentar


                    • #11
                      Feb 26. Mechel mulls an IPO for its mining assets, valuing them at no less than USD 20 bn.

                      Mechel Group confirmed its intention to take its mining assets public and values them at no less than USD 20 bn, Mechel Group's beneficial owner and chief executive Igor Zyuzin said. As the group's senior vice president of finance and management Mukhamed Tsikanov told reporters, the plan is to float around 20% of these assets. "We expect to make public specific businesses, including those involved in mining operations. We do not rule out seeing other companies going public" – Zyuzin said. He declined to specify the scheduled timeframe for spinning off the mining assets, the deadline or an IPO venue.

                      Quelle: Finam

                      Mechels Partnership

                      Kommentar


                      • #12
                        07.03.2008 11:04
                        Angemeldete Fusionen: Severstal (RUS) / Dneprometiz (Erw. der alleinigen Kontrolle)

                        Angemeldete Fusionen: Severstal (News) (RUS) / Dneprometiz (Erw. der alleinigen Kontrolle)

                        Datum der Anmeldung:
                        05.03.2008

                        Aktenzeichen:
                        B5-61/08

                        Unternehmen:
                        Severstal (RUS) / Dneprometiz (Erw. der alleinigen Kontrolle)

                        Produktmärkte:
                        Herstellung und Vertrieb von Weichstahldraht

                        Bundesländer/Unternehmenssitz:

                        Quelle: Bundeskartellamt

                        PS: SeverStal Hompage

                        Kommentar


                        • #13
                          UniCredit Aton zu Mechel:
                          http://www.skrin.com/analytics/revie...98d661037d675c

                          Kommentar


                          • #14
                            Mechel March 11, 2008
                            Mechel confirms its share capital


                            Moscow, Russia – March 11, 2008 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, in accordance with the Rules of the City Code on Takeovers and Mergers (the “City Code”) confirms the Company's share capital.

                            This disclosure under Rule 2.10 of the City Code is made subsequent to the announcement made by Mechel dated March 3, 2008.

                            Mechel hereby confirms, in accordance with Rule 2.10 of the City Code, that as at the close of the business day on March 10, 2008 it has in issue, in total 416,270,745 ordinary shares of RUR 10 each (the shares were issued on March 19, 2003 and January 23, 2004). The International Securities Identification Number (ISIN) for Mechel's ordinary shares is RU000A0DKXV5.

                            The ISIN for Mechel’s American Depositary Receipts and Global Depositary Receipts which are listed on the New York Stock Exchange and registered with the U.S. Securities and Exchange Commission (each representing three ordinary shares of RUR 10 each in Mechel) are US5838401033 and US5838402023 respectively.

                            Quelle: Rustocks

                            Kommentar


                            • #15
                              22.04.2008 14:40
                              Mechel Reports Its Operational Results for the First Quarter of 2008


                              MOSCOW, April 22 /PRNewswire/ --

                              Mechel (News) OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announced today its operational results for the first quarter ended March 31, 2008.

                              First quarter of 2008 First quarter of 2008, vs. first thousand tonnes quarter of Product 2007, % Coal 7,279 +60 Coking coal 4,313 +94 Steam coal 2,966 +27 Coal concentrate(1) 4,122 +37 Coking 3,330 +43 Steam 792 +19 Iron ore concentrate 1,163 +6 Nickel 4.4 +7 Ferrosilicon 23 n/a Hardware 183 +16 Forgings 19 -12 Stampings 24 -7 Rolled products 1,366 +7 Flat products 115 +3 Long products 817 +8 Semi-finished products 434 +7 Steel 1,563 +5 Pig iron 970 +4 Coke 917 -4 Electric power generation (ths. kWh) 1,276,133 +157 (1) The coal concentrate has been produced from part of the raw coal output.

                              Mechel Management OOO Chief Executive Officer Vladimir Polin commented on the operational results for the first quarter of 2008, "We are very pleased with our operational results for the first quarter of 2008 as we achieved strong production growth across all of our business segments: mining, steel and power. Strong coal growth was driven primarily by the acquisition of Yakutugol HC OAO in October 2007, and the modernization of Southern Kuzbass OAO's mining equipment. We continued to increase our output of nickel as the main component in stainless steel rolled product manufacturing."

                              Mr. Polin continued, "Results in our steel segment, were positively driven by increased volumes of steel produced with the continuous casting method, and over time, we will convert 90% of our total steel production to use continuous casting. Furthermore, we increased our output of its finished long and flat rolled products and hardware. Our power segment substantially increased its electric power generation that was primarily driven by the acquisition of the Southern Kuzbass Power Plant in March 2007. Energy growth was also strengthened by the recent acquisition of 49% of the Bulgarian-based Rousse Thermal Power Plant in December 2007, which is operated by our professional management, and the subsequent successful integration of the Power Plant's power facilities into the company's business."

                              Mechel OAO Ilya Zhitomirsky Phone: +7-495-221-88-88 ilya.zhitomirsky@mechel.com

                              Mechel is one of the leading Russian companies. Its business includes three segments: mining, steel, and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.

                              Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of Mechel, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements. We refer you to the documents Mechel files from time to time with the U.S. Securities and Exchange Commission, including our Form 20-F. These documents contain and identify important factors, including those contained in the section captioned "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in our Form 20-F, that could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, the achievement of anticipated levels of profitability, growth, cost and synergy of our recent acquisitions, the impact of competitive pricing, the ability to obtain necessary regulatory approvals and licenses, the impact of developments in the Russian economic, political and legal environment, volatility in stock markets or in the price of our shares or ADRs, financial risk management and the impact of general business and global economic conditions.

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