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PAO Severstal, one of the world's leading vertically-integrated steel and mining companies, is hosting its annual Capital Markets Day in London today. The Company's top-management will announce an update to Severstal's strategy, aimed at further strengthening its financial performance, maximising value creation and enhancing shareholder returns.
Ahead of the event, PAO Severstal provides the following update to the market:
Superior client experience - Severstal aims to offer our customers unique selling propositions on each target market.
Cost leadership - Severstal's goal is to achieve a significant cost advantage in basic steel products. Part of the Company's smart-capex programme will focus on achieving this, including investments to increase mining volumes and pig iron and steel volumes and to further reduce costs in both the Company's steel and resources businesses.
New opportunities - Severstal's objective is to access and consequently benefit from the use of global cutting-edge technology and new business-models.
Alexander Shevelev, CEO of Severstal, commented:
"As a global efficiency leader with a strong track record for progress, today we are striving for further growth, and see growth opportunities. We have shaped a growth story with very clear drivers and commit to adding 10-15% average EBITDA growth per year. At the same time, we will seek to maintain our strict approach to capital allocation. We expect that our temporary CAPEX increase will not affect our dividend story which, in combination with our development projects, will allow us to deliver value growth for our shareholders."
Severstal's top management team will provide more detail and comment on the above statements during the Capital Markets Day presentation, which will be webcast live from 12:00pm GMT and will be accessible via the Company's website at: http://www.severstal.com/eng/ir/cmd/
This announcement may include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "expects", "intends", "may", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group's business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.