Evraz engages in the production and distribution of steel and related products and coal and iron ore mining. Co. also produces vanadium products. Co. has four segments: Steel, which includes production of steel and related products at all mills except for those in North America, and includes the extraction of vanadium ore and production of vanadium products, iron ore mining and enrichment and certain energy-generating companies; Steel, North America, which includes production of steel and related products in the U.S. and Canada; Coal, which includes coal mining and enrichment; and Other operations, which includes energy-generating companies, shipping and railway transportation companies.
  • TickerEVR
  • ISINGB00B71N6K86
  • ExchangeLondon Stock Exchange
  • SectorIndustrial Metals & Mining
  • CountryUnited Kingdom
Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrew Keeley
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Kirill Rogachev
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - August 3, 2020

CIS EUROBOND MARKETThroughout last week, Russian sovereign Eurobonds mainly traded sideways. The same held true on Friday, though the Russia 47 managed a 0.8 pp gain and the Russia 42 added on 0.6 pp.GOVERNMENT DEBTThe OFZ market remained very quiet on Friday, with trading volumes totaling just R9 bln. Quotes were virtually flat, except at the very end of the curve, where the OFZ 26233 and OFZ 26230 shed 2-3 bps in yield.STORIES> O1 Properties issues update on debt restructuring> TCS 2Q20 IFRS preview: Good quarter, all things considered> VTB 2Q20 IFRS preview: Minimal earnings> Evraz: 2Q20 tr...

Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev
  • Yaroslav Lissovolik

Долговые рынки сегодня - 31 июля 2020

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГПосле небольшого роста в среду российские суверенные еврооблигации вчера дешевели на фоне усиления рискофобии на глобальных рынках. По итогам дня цены Россия-43 снизились на 0,9 п. п., Россия-47 - на 0,4 п. п.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИСнижение глобального спроса на риск и ослабление рубля, который подешевел сильнее аналогов, способствовали росту доходности ОФЗ на 8-11 б. п. на длинном участке и на 6-9 б. п. на остальной кривой. Обороты составили 19 млрд руб. Предложение в основном абсорбировалось спросом со стороны локальных участников рынка.НОВОСТИ> Макроэконо...

Alexey Kirichok ...
  • Anastasia Khakhaeva
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Andrey Krylov
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Irina Lapshina
  • Mikhail Krasnoperov
  • Research Team
  • Rodion Lomivorotov
  • Svetlana Sukhanova
  • Vladimir Lezhnev

CIS Market Daily - 31 июля 2020

КОММЕНТАРИЙ И ПРОГНОЗ - ПАДЕНИЕ ВВП США, СЛАБАЯ ДИНАМИКА РОССИЙСКОГО РЫНКА, ОПТИМИСТИЧНЫЙ ИНДЕКС PMI В КИТАЕИндекс РТС упал на 2,7% до 1 232 пунктов, это один из худших результатов среди развивающихся рынков. Данные по ВВП США, как и ожидалось, оказались очень слабыми. Тем не менее настрой рынков частично улучшился благодаря хорошей отчетности американских высокотехнологичных компаний, а также после публикации в Китае официального производственного индекса PMI, который немного превысил прогнозы.НОВОСТИ> Макроэкономическая динамика в России в июне улучшилась, но осталась негативной> НОВАТЭК: ос...

Alexey Kirichok ...
  • Anastasia Khakhaeva
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Andrey Krylov
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Irina Lapshina
  • Mikhail Krasnoperov
  • Research Team
  • Rodion Lomivorotov
  • Svetlana Sukhanova
  • Vladimir Lezhnev

CIS Market Daily - July 31, 2020

MARKET COMMENT - US GDP CRASH, RUSSIAN UNDERPERFORMANCE, CHINESE PMI BEATThe RTS fell 2.7% to 1,232, among the weakest performances in EMs yesterday. US GDP came in devastatingly but expectedly weak, while a results beat from US tech companies and a slightly better than expected Chinese official manufacturing PMI has shifted global sentiment from negative to ambivalent. STORIES> Weekly EM equity outflow decelerates to $1.0 bln> Russian economic activity: Improvement in June, but still in the red> Novatek 2Q20 conference call highlights> Evraz: 2Q20 trading update in-line; earnings preview> Yan...

Alexey Kirichok ...
  • Irina Lapshina
  • Vladimir Lezhnev

Evraz - 2Q20 Trading Update In-Line; Earnings Preview

Evraz has published a 2Q20 trading update that was slightly ahead of our expectations on steel sales volumes and in line on coking coal volumes, which were low. We have slightly raised our 1H20 EBITDA estimate to $1.05 bln. Assuming a 5-10% rise in steel prices from spot levels and a normalization in the sales mix over the remainder of this year and next, the stock is trading at a 2021E EV/EBITDA of around 4.0 and a 2021E LFCF yield of 14%.> Pickup in Russian steel sales volumes driven by boost in exports. The external steel product sales volumes of the Russian division grew 8% Q-o-Q to a reco...

Jérôme VINERIER

Short term view - EVRAZ PLC : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at 581.90 p. Breaking below the support at 454.30 p would invalidate the trend.

Jérôme VINERIER

Analyse court terme - EVRAZ PLC : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 581,90 p. La rupture du support à 454,30 p invaliderait cette tendance.

Jérôme VINERIER

Short term view - EVRAZ PLC : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at 581.90 p. Breaking below the support at 454.30 p would invalidate the trend.

Jérôme VINERIER

Analyse court terme - EVRAZ PLC : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 581,90 p. La rupture du support à 454,30 p invaliderait cette tendance.

Jérôme VINERIER

Analyse moyen terme - EVRAZ PLC : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 295,70 p.

3 directors sold

Three Directors at Evraz Group S.A. sold 13,632,750 shares at 635p. The significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Alexey Kirichok ...
  • Irina Lapshina
  • Vladimir Lezhnev

Evraz - 2Q20 Trading Update In-Line; Earnings Preview

Evraz has published a 2Q20 trading update that was slightly ahead of our expectations on steel sales volumes and in line on coking coal volumes, which were low. We have slightly raised our 1H20 EBITDA estimate to $1.05 bln. Assuming a 5-10% rise in steel prices from spot levels and a normalization in the sales mix over the remainder of this year and next, the stock is trading at a 2021E EV/EBITDA of around 4.0 and a 2021E LFCF yield of 14%.> Pickup in Russian steel sales volumes driven by boost in exports. The external steel product sales volumes of the Russian division grew 8% Q-o-Q to a reco...

Boris Krasnozhenov ...
  • Yulia Tolstykh

Evraz PLC: Q2 20 trading update – Positive

EVRAZ (EVR:LN; O/W; TP £6.5/share) reported its’ 2Q20 operational results, which was positive amid the coronavirus outbreak. Crude steel production decreased 5% q/q due to capital repairs at EVRAZ ZSMK and EVRAZ NTMK. Overall, steel products sales rose 5% q/q boosted by demand for slabs and billets, for which sales increased by 20% q/q. We also note the 26% q/q increase in iron ore shipments. Overall sales of finished products decreased by 7% q/q. In terms of finished steel products, 1H20 sa...

Andrey Kuznetsov ...
  • Cole Akeson

Sberbank CIB Trade Ideas - July 24, 2020

In this note, we review our short-term trade ideas list, adding four new trades, closing three and keeping four open.> Time to be picky. The recovery of the Russian market has slowed after a spectacular rally in April-May. We remain optimistic on the market overall, as we expect more rate cuts from the CBR, lower bond yields and continued inflows from retail investors. However, we believe that the market recovery will no longer be indiscriminately lifting all boats. We recommend focusing on names that can spark retail investor interest, such as tech and dividend yielders.> Opening long Rosneft...

Alexey Kirichok ...
  • Irina Lapshina
  • Vladimir Lezhnev

Evraz - A Detailed Look at a Complex Business

Here we provide a comprehensive overview of Evraz's Russian operations. We conclude that the prospects for coking coal volume growth depend on export markets and a recovery in the SSCC spot price to above $80-85/tonne FOB Australia. For the steel division, most of the HVA capacity is utilized, while a reduction in the share of semis is subject to the investment program being realized. There are projects in the pipeline ready to be constructed, but the weak domestic market appears to be forestalling this. Over 2021-23, we model at least 1 mln tonnes of additional finished long products being pr...

BCS Equity Daily: EVRAZ, Qiwi, Detsky Mir, Aeroflot

Resurgent growth angst Ahead: Mixed play. The successful trial of a potential COVID-19 treatment is again likely to take a backseat to signs that a 2nd wave of the COVID-19 pandemic has resurfaced (e.g., in China, US). In turn, the threat of new lockdowns and a consequent drag on an economic recovery will weigh on sentiment. Against this backdrop, players will be cautious ahead of the US jobless claims report – a 2nd wave of COVID is expected to have kept the print elevated, pointing to a protracted difficult recovery. On a mixed note, China’s PBoC has signaled intent to keep liquidity ample...

EVRAZ plc: Update following change of outlook to stable

Our credit view of EVRAZ plc, reflecting its fairly strong financial metrics, balanced financial policy and healthy liquidity.

BCS Fixed Income Daily: Alrosa, Belarus, Evraz

Resurgent growth angst Ahead: Mixed play. The successful trial of a potential COVID-19 treatment is again likely to take a backseat to signs that a 2nd wave of the COVID-19 pandemic has resurfaced (e.g., in China, US). In turn, the threat of new lockdowns and a consequent drag on an economic recovery will weigh on sentiment. Against this backdrop, players will be cautious ahead of the US jobless claims report – a 2nd wave of COVID is expected to have kept the print elevated, pointing to a protracted difficult recovery. On a mixed note, China’s PBoC has signaled intent to keep liquidity ample...

Moody's changes Evraz's outlook to stable; affirms ratings

Rating Action: Moody's changes Evraz's outlook to stable; affirms ratings. Global Credit Research- 17 Jun 2020. London, 17 June 2020-- Moody's Investors Service has today changed to stable from positive the outlook of EVRAZ plc.

BCS Fixed Income Daily: Norilsk Nickel, Evraz

Eyes on US Fed Ahead: Anticipatory uptick, if only – Optimism has limits. Expect a modicum of select buying the dip as well as some wading in by Fed-largess believers. Indeed, players remain generally optimistic in the prospects of a ‘U’-shaped recovery, and some Fed watchers anticipate yet more verbiage from Chair Powell to ‘do everything it takes’ to ensure stability. However, optimism has its limits – a dour tone from Powell on the outlook for US and global growth and/or an inadequate response to combatting the COVID-triggered economic downtown would sour the risk trade. Mark S Bradfo...

BCS Fixed Income Daily: Economics, Alrosa, Evraz, UC RUSAL

Lack of new driver, China growth concerns govern Ahead: Prudence at again at play. Global bourses were in retreat yesterday as recent positive headlines re: US-China Phase 1 deal ran their course and Phase 2 does not guaranty any breakthrough. Not helping, markets fear China’s coronavirus threatens to derail the world’s second largest economic growth engine – further weighing, the virus has spread to the US, calling into question the US’ new 2020 GDP forecast of rising to “at least 3%”. On the Russian front, Putin has retained most of his key ministers in the same portfolios, but the impetus...

Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrew Keeley
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Kirill Rogachev
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - August 3, 2020

CIS EUROBOND MARKETThroughout last week, Russian sovereign Eurobonds mainly traded sideways. The same held true on Friday, though the Russia 47 managed a 0.8 pp gain and the Russia 42 added on 0.6 pp.GOVERNMENT DEBTThe OFZ market remained very quiet on Friday, with trading volumes totaling just R9 bln. Quotes were virtually flat, except at the very end of the curve, where the OFZ 26233 and OFZ 26230 shed 2-3 bps in yield.STORIES> O1 Properties issues update on debt restructuring> TCS 2Q20 IFRS preview: Good quarter, all things considered> VTB 2Q20 IFRS preview: Minimal earnings> Evraz: 2Q20 tr...

Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev
  • Yaroslav Lissovolik

Долговые рынки сегодня - 31 июля 2020

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГПосле небольшого роста в среду российские суверенные еврооблигации вчера дешевели на фоне усиления рискофобии на глобальных рынках. По итогам дня цены Россия-43 снизились на 0,9 п. п., Россия-47 - на 0,4 п. п.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИСнижение глобального спроса на риск и ослабление рубля, который подешевел сильнее аналогов, способствовали росту доходности ОФЗ на 8-11 б. п. на длинном участке и на 6-9 б. п. на остальной кривой. Обороты составили 19 млрд руб. Предложение в основном абсорбировалось спросом со стороны локальных участников рынка.НОВОСТИ> Макроэконо...

Alexey Kirichok ...
  • Anastasia Khakhaeva
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Andrey Krylov
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Irina Lapshina
  • Mikhail Krasnoperov
  • Research Team
  • Rodion Lomivorotov
  • Svetlana Sukhanova
  • Vladimir Lezhnev

CIS Market Daily - 31 июля 2020

КОММЕНТАРИЙ И ПРОГНОЗ - ПАДЕНИЕ ВВП США, СЛАБАЯ ДИНАМИКА РОССИЙСКОГО РЫНКА, ОПТИМИСТИЧНЫЙ ИНДЕКС PMI В КИТАЕИндекс РТС упал на 2,7% до 1 232 пунктов, это один из худших результатов среди развивающихся рынков. Данные по ВВП США, как и ожидалось, оказались очень слабыми. Тем не менее настрой рынков частично улучшился благодаря хорошей отчетности американских высокотехнологичных компаний, а также после публикации в Китае официального производственного индекса PMI, который немного превысил прогнозы.НОВОСТИ> Макроэкономическая динамика в России в июне улучшилась, но осталась негативной> НОВАТЭК: ос...

Alexey Kirichok ...
  • Anastasia Khakhaeva
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Andrey Krylov
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Irina Lapshina
  • Mikhail Krasnoperov
  • Research Team
  • Rodion Lomivorotov
  • Svetlana Sukhanova
  • Vladimir Lezhnev

CIS Market Daily - July 31, 2020

MARKET COMMENT - US GDP CRASH, RUSSIAN UNDERPERFORMANCE, CHINESE PMI BEATThe RTS fell 2.7% to 1,232, among the weakest performances in EMs yesterday. US GDP came in devastatingly but expectedly weak, while a results beat from US tech companies and a slightly better than expected Chinese official manufacturing PMI has shifted global sentiment from negative to ambivalent. STORIES> Weekly EM equity outflow decelerates to $1.0 bln> Russian economic activity: Improvement in June, but still in the red> Novatek 2Q20 conference call highlights> Evraz: 2Q20 trading update in-line; earnings preview> Yan...

Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Fedor Kornachev
  • Irina Lapshina
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Долговые рынки сегодня - 22 июля 2020

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГРост спроса на риск на глобальных рынках вчера под-держал котировки российских суверенных еврооблигаций. По итогам торгов больше всего подорожали выпуски с погашением в 2043 и 2047 годах, прибавив по 0,5 п. п.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИНа рынке ОФЗ в течение дня сохранялся спрос со стороны локальных участников рынка, в среднесрочных выпусках активности не наблюдалось. Однако после объявления Минфином выпусков, которые будут предложены сегодня на аукционах, доходность в середине кривой также начала снижаться. По итогам дня в доходность опустилась вдоль кривой на ...

Thanks to a better fundamental star rating, EVRAZ PLC. sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to EVRAZ PLC. (GB), active in the Steel industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date June 26, 2020, the closing price was GBp 290.00 and its expected value was estimated at GBp 280.93.

Philip Morrish

Value Indicator - UK Basic Resources 30122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis fof the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 30122019

Currently '(TM) Value Indicator - Main Market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on The London Stock Exchange's Main market that provides the user with indicative long-term trading indicators and indicative target prices. The publication is also available on request at

Philip Morrish

Value Indicator - UK Basic Resources 23122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis of the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 23122019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term tagrte prices.

Expert Corporate Governance Service (ECGS)

Evraz Group – AGM 16 june 2020

Items 2 and 3: Remuneration policy and report   The remuneration policy is set for the only executive director - the CEO. Mr. Frolov is one of the controlling shareholders of the company and the current remuneration policy is tailored for his particular case. He does not benefit from any LTI. His base salary and bonus maximum opportunity are above our limits, however, the overall remuneration is acceptable. Evraz operates robust performance targets with an average bonus payout of 42% since 2013.   Item 12: Re-elect Sir Michael Peat   Senior Independent Director and member of the Remunera...

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