Novolipetsk Steel Q4 Net Profit Rises 3%

Novolipetsk Steel reported a 3% rise in its fourth-quarter net profit. Novolipetsk Steel's quarterly net profit climbed to $153 million, from $149 million in the year-ago period. Its revenue rose to $3.05 billion, from $2.27 billion in the year-ago period. Novolipetsk Steel's earnings before interests, taxes, depreciation and amortization (EBITDA) came in at $383 million, versus $478 million in the third quarter and $493 in the year-ago quarter. Novolipetsk Steel projects to lift production to over 15 million tons this year, versus 12 million in 2011. Novolipetsk also plans to reduce investments to $1.7 billion this year, versus $2.0 billion in 2011.