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 PRESS RELEASE

PAO Severstal: Severstal appoints Citi as Depositary Bank for GDR Prog...

PAO Severstal (SVST) PAO Severstal: Severstal appoints Citi as Depositary Bank for GDR Programme 06-Dec-2021 / 15:59 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Severstal appoints Citi as Depositary Bank for GDR Programme PAO Severstal (MOEX: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, announces that Citi, acting through Citibank N.A., h...

 PRESS RELEASE

PAO Severstal: Results of Extraordinary General Meeting

PAO Severstal (SVST) PAO Severstal: Results of Extraordinary General Meeting 06-Dec-2021 / 13:10 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Results of Extraordinary General Meeting   06 December 2021   PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world's leading vertically integrated steel and steel-related mining companies, that a resolution on payment of a dividend for the three months...

Ekaterina Sidorova ... (+12)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Igor Rapokhin
  • Maria Martynova
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Sergey Donskoy
  • Sergey Kolesnikov
  • FRM

Debt Markets Today - December 3, 2021. Severstal Sells Coal Operations...

CIS EUROBOND MARKETRussian long issues extended recent gains. The Russia 47 added 1.5 pp, while the Russia 42 and 43 firmed 1 pp apiece, followed closely by the Gazprom 34 and Gazprom 37. In the broader CIS space, Belarusian issues underperformed, losing 0.1-0.2 pp in price.GOVERNMENT DEBTOFZ yields opened 10-12 bps higher yesterday as Wednesday's weekly inflation print was priced in. However, the early losses were subsequently partially pared back and yields ended up just 3-7 bps higher. The ke...

Ekaterina Sidorova ... (+10)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Igor Rapokhin
  • Maria Martynova
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Sergey Donskoy

Долговые рынки сегодня - 3 декабря 2021. Северсталь прощается с угольн...

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГКотировки длинных российских суверенных еврооблигаций вчера продолжали расти: выпуск Россия-47 подорожал на 1,5 п. п., Россия-42 и -43 - прибавили в цене по 1 п. п., также как Газпром-34 и Газпром-37. Выпуски Белоруссии по большей части подешевели на 0,1-0,2 п. п. ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИТорги на рынке ОФЗ вчера открылись ростом доходности на 10-12 б. п., рынок отыгрывал данные об ускорении недельной инфляции в России. Однако затем ОФЗ частично восстановились: ...

Cole Akeson ... (+12)
  • Cole Akeson
  • Anastasia Khakhaeva
  • Andrew Keeley
  • Andrey Gromadin
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Arthur Cherkesov
  • Fedor Kornachev
  • Konstantin Samarin
  • Maria Martynova
  • Research Team
  • Sergey Donskoy

CIS Market Daily - December 3, 2021

MARKET COMMENT - MARKETS DELIVER MORE OPTIMISTIC MESSAGES THAN DIPLOMATSThe RTS edged up 0.2% to 1,690 versus a 0.8% gain for the MSCI EM. Markets grew more optimistic amid strong macro data and stock performances in the US session, but that has led to a more mixed picture in markets this morning, as detailed below. Top Russian and US officials reported no breakthroughs in short talks yesterday, and investors will likely continue to watch Eastern European politics through the weekend.STORIES> Ru...

Cole Akeson ... (+13)
  • Cole Akeson
  • Anastasia Khakhaeva
  • Andrew Keeley
  • Andrey Gromadin
  • Anton Chernyshev
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Arthur Cherkesov
  • Fedor Kornachev
  • Konstantin Samarin
  • Maria Martynova
  • Research Team
  • Sergey Donskoy

CIS Market Daily - 3 декабря 2021

КОММЕНТАРИЙ И ПРОГНОЗ - НАСТРОЙ НА РЫНКАХ БОЛЕЕ ОПТИМИСТИЧНЫЙ, ЧЕМ У ПОЛИТИКОВИндекс РТС в четверг подрос на 0,2% до 1 690 пунктов, а MSCI EM - на 0,8%. Оптимизм усилился на фоне хорошей макростатистики и позитивной динамики на рынке акций после начала торгов в США, но сегодня утром динамика более неоднородна. На выходных инвесторы, вероятно, продолжат следить за политическими новостями из Восточной Европы. НОВОСТИ> Цены на нефть упали и восстановились на фоне неожиданных результатов заседания О...

Boris Krasnozhenov ... (+2)
  • Boris Krasnozhenov
  • Yulia Tolstykh

Severstal agrees to sell Vorkutaugol to Russkaya Energiya – NEUTRAL-TO...

Severstal (SVST:LI; E/W) has signed a binding agreement with OOO Russkaya Energiya* to sell its coking coal assets, Vorkutaugol at a transaction value of RUB15bn (c.$200mn). The deal is expected to be closed in 1Q22, subject to regulatory approval. The deal is said to allow greater focus on steel and iron ore asset development and to reduce Severstal’s carbon footprint. Part of the proceeds from the transaction will be used to finance projects within Severstal’s ambitious decarbonization stra...

 PRESS RELEASE

PAO Severstal: Severstal agrees to sell Vorkutaugol to Russkaya Energi...

PAO Severstal (SVST) PAO Severstal: Severstal agrees to sell Vorkutaugol to Russkaya Energiya 02-Dec-2021 / 14:27 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Severstal agrees to sell Vorkutaugol to Russkaya Energiya December 2, 2021, Moscow - PAO Severstal ("Severstal", "The Group"), one of the world's largest vertically integrated steel and mining companies, announces that it has signed a binding agr...

Andrey Kuznetsov ... (+8)
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Georgiy Ivanin
  • Research Team
  • Sergey Donskoy

CIS Market Daily - October 19, 2021

MARKET COMMENT - US RECOVERY, DOLLAR DECLINE SET UP A BETTER OUTLOOK THAN YESTERDAY'SMost markets were weak earlier in the day, but a recovery in the US set up a brighter outlook this morning. Weak US industrial production and some reversal in energy prices appeared to ease the most immediate of inflation and rates concerns for stock investors, and growth stocks have tended to lead in the US yesterday and in Asia this morning. The RTS declined 0.8% to 1,877, while today most Russian and global i...

Ekaterina Sidorova ... (+12)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Andrey Gromadin
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Georgiy Ivanin
  • Igor Rapokhin
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Sergey Kolesnikov
  • FRM

Debt Markets Today - October 19, 2021. Severstal, Global Ports 3Q21 Re...

CIS EUROBOND MARKETUS Treasuries traded sideways yesterday, which translated into muted price movement in Russian sovereign and corporate Eurobonds. The only real outliers were the Lukoil 30 (-0.3 pp) and Petropavlovsk 22 (-0.4 pp).GOVERNMENT DEBTThe week got off to a downbeat start for the OFZ market amid a correction across the EM local debt space. OFZ yields moved 8-10 bps higher at the short end and 7-9 bps higher at the long end of the curve. The main sellers were foreigners. The 10y paper ...

Ekaterina Sidorova ... (+11)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Georgiy Ivanin
  • Igor Rapokhin
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Sergey Kolesnikov
  • FRM

Долговые рынки сегодня - 19 октября 2021. Северсталь и Global Ports оп...

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГВчера доходность гособлигаций США оставалась в боковом тренде, и цены на российском рынке как суверенного, так и корпоративного долга практически не изменились. Лишь котировки выпусков Лукойл-30 и Петропавловск-22 снизились соответственно на 0,3 п. п. и на 0,4 п. п. ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИНеделя началась в негативном ключе для ОФЗ из-за коррекции всех локальных обязательств развивающихся рынков: их доходность повысилась на 8-10 б. п. в коротком сегменте и на 7...

Egor Fedorov
  • Egor Fedorov

EM Credit Spark/Severstal kicks off reporting season in CIS

Risk sentiment in EM credit was slightly negative on Monday, triggered by mixed signals from China (weak macro statistics and hopes for risks containment with Evergrande) and by sensitive US Treasuries yield curve moves over the past two trading days. US Treasuries yields had been shifting up by 10bp over the last two days in the 2-10-year range. EM sovereign CDS in Asia are tighter by around 1bp. India's CDS (-6bp) is rather an outlier here. In CEMEEA EM CDS are visibly wider: Turkey (+6bp), Ru...

Boris Krasnozhenov ... (+2)
  • Boris Krasnozhenov
  • Yulia Tolstykh

Severstal: 3Q21 IFRS review – EBITDA broadly in line; Positive

Severstal (SVST: LI; E/W) reported its 3Q21 operational and financial results which came broadly in line with the consensus. EBITDA increased 5% q/q to $1.7 bn on the back of healthy sales and higher steel prices, which helped to offset the negative effect of the export duties. The company reported quarterly free cash flow of nearly $1 bn. With net debt/EBITDA dropping to 0.29x and liquidity remaining strong, the BoD recommended a quarterly dividend payout slightly above 100% of FCF or RUB85....

 PRESS RELEASE

PAO Severstal: Severstal reports Q3 2021 financial and operational res...

PAO Severstal (SVST) PAO Severstal: Severstal reports Q3 2021 financial and operational results 18-Oct-2021 / 10:00 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.   Severstal reports Q3 2021 financial and operational results   - EBITDA margin was 54%; EBITDA grew 5% and FCF grew 6% qoq -   Moscow, Russia -  18 October 2021 - PAO Severstal (MOEX: CHMF; LSE: SVST), one of the world's leading steel and ...

 PRESS RELEASE

PAO Severstal: The Board Recommends Q3 2021 Dividend Payment

PAO Severstal (SVST) PAO Severstal: The Board Recommends Q3 2021 Dividend Payment 18-Oct-2021 / 10:00 MSK Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. The Board Recommends Q3 2021 Dividend Payment The Board of Directors of Severstal ("Severstal", "the Company") (LSE: SVST; MICEX-RTS: CHMF), one of the world's leading vertically integrated steel and steel-related mining companies, is recommending a dividend...

PUB.JSC.SEVERSTAL sees a downgrade to Neutral on account of less funda...

The independent financial analyst theScreener just lowered the general evaluation of PUB.JSC.SEVERSTAL (RU), active in the Steel industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date October 15, 2021, the closing price was USD 22.00 and its target price w...

Sergey Donskoy
  • Sergey Donskoy

Metals and Mining - Placing the Sector Under Review

Due to the transition of coverage to a new analyst team, we are putting all of the stocks under our coverage in the metals and mining sector UNDER REVIEW until further notice. Accordingly, we are withdrawing our target prices and recommendations for these stocks.

Ekaterina Sidorova ... (+5)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Igor Rapokhin
  • Research Team
  • Sergey Donskoy

Debt Markets Today - October 15, 2021. Severstal 3Q21 Earnings Preview

CIS EUROBOND MARKETImproved global market sentiment continued to drive a rebound in Russian sovereign Eurobonds yesterday. On the day, long issues added 1.3-1.7 pp, while intermediate papers gained 0.8 pp.GOVERNMENT DEBTOFZs fell 1-4 bps in yield yesterday amid a decent bid from nonresident investors. Trading volumes, however, were not impressive at just R17 bln.STORIES> Severstal's 3Q21 results to mark the peak of the earnings cycle

Andrey Kuznetsov ... (+8)
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Cole Akeson
  • Georgiy Ivanin
  • Lyudmila Melnikova
  • Mikhail Krasnoperov
  • Research Team
  • Sergey Donskoy

CIS Market Daily - October 15, 2021

MARKET COMMENT - BULLISH US, CHINA HEADLINES PUSHING MARKETS HIGHERDriven by strong DM performances, the MSCI ACWI climbed 1.4%, the global index's biggest one-day gain since May. Russia was among the better performing EMs, the RTS climbing 1.1% to 1,876. Positive US and China headlines have driven demand for risk, with cyclicals faring a bit better than other market segments.STORIES> EPFR: EM equity inflows sharply decelerate, Russia inflow keeps pace> Rosneft closes 5% stake sale in Vostok Oil...

Ekaterina Sidorova ... (+5)
  • Ekaterina Sidorova
  • Alisa Zakirova
  • Igor Rapokhin
  • Research Team
  • Sergey Donskoy

Долговые рынки сегодня - 15 октября 2021. Результаты Северстали за 3К2...

РЫНОК ВНЕШНЕГО ДОЛГА СТРАН СНГУлучшение настроя на глобальных рынках вчера снова способствовало восстановлению цен российских суверенных еврооблигаций. По итогам торгов длинные выпуски подорожали на 1,3-1,7 п. п. В среднесрочном сегменте рост котировок не превысил 0,8 п. п.ГОСУДАРСТВЕННЫЕ ЦЕННЫЕ БУМАГИДоходности ОФЗ вчера снизились на 1-4 б. п. благодаря спросу от нерезидентов. Впрочем, торговая активность на МосБирже была невысокой: оборот составил всего 17 млрд руб.НОВОСТИ> Результаты Северста...

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