Russian mining and steel group Mechel has announced its financial results for 2012.
In 2012, Mechel saw a net loss of $1.66 billion compared to a net profit of $727.9 million in the previous year. In 2012, the company's operating income declined by 10.1 percent year on year to $11.3 billion.
Mechel's adjusted EBITDA decreased by 44.4 percent year on year to $1.332 billion in 2012. The adjusted EBITDA margin, which had been 19.1 percent in 2011, declined to 11.8 percent in 2012.
Source:
http://www.steelorbis.com/steel-news/latest-news/mechel-posts-net-loss-of-166-billion-for-2012-752933.htm