cfe s outstanding position, page-4

hi surfman,

A 50c bid for CFE would cost Evraz 200M$ because they already own 19.9%. Actually it would cost them next to nothing because they'd get a 220 M$ cashbox , Cape Lambert South, and a stake in Afrikan Minerals.

Look at their financial position. I guess a 200 M$ take over wouldn't even hurt them slightly.

They had a gain after tax of approx. 2 billion $ in the past financial year.




29.08.2008
Evraz Announces 2008 Interim Results
August 29, 2008– Evraz Group S.A. (LSE: EVR) today announces its unaudited interim results for the six months ended June 30, 2008.

1H 2008 Highlights:

Financials:

Revenue grew 78.2% to US$10,726 million due to strong pricing, acquisitions and improved sales mix.
Consolidated adjusted EBITDA was up 80.5% to US$3,700 million.
Net profit attributable to equity holders of Evraz Group S.A. grew 82.1% to US$2,043 million.
Outstanding operating cash flow of US$2,347 million, a 42.2% increase over the previous period, due to higher profit and continuing focus on working capital management.
Earnings per GDR increased by 75.4% to US$5.56.
Steel:

Crude steel production grew by 11.9% year-on-year to 9.5 million tonnes.
Total steel sales volumes increased by 10.9% to 9.4 million tonnes.
Vanadium:

Revenues of vanadium segment increased by 212.2% to US$740 million.
Vanadium products sales increased 57.2% year-on-year to 15,800 tonnes in vanadium equivalent.
Mining:

Iron ore production grew by 21.8% to 11.3 million tonnes with iron ore self-coverage of 93%.
Own coal production provides for over 100% of the Company’s steel making requirements.
Recently approved Yuzhkuzbassugol development programme until 2018 is another step in Yuzhkuzbassugol’s turnaround.
Corporate developments and acquisitions:

Acquisition of Claymont Steel for US$420 million completed in January
Acquisition of IPSCO Canada for US$2,413 million completed in June
Successful bond placements totaling US$2.0 billion completed in April and May