EVRAZ plc (LON: EVR) has announced that it will be hosting its annual Capital Markets Day at 9:00 am in London today.
The Capital Markets Day will feature presentations by company executives, including Sir Michael Peat (Senior Independent Non-Executive Director), Alexander Frolov (CEO), Alexey Ivanov (Senior Vice-President, Commerce and Business development), Nikolay Ivanov (CFO) and Artem Natrusov (Vice-President, Information Technologies).
The presentation will provide an overview of global steel and raw material market trends and EVRAZ’ strategic goals. Management will discuss CAPEX program and give an update on major development projects in Russia and North America.
For 2020-23 period, the company is considering three major investment projects with the target to increase sales of finished steel products. Capital expenditures are expected to be around US$1.0 billion per annum during 2020-2023. In 2019, capital expenditures level is estimated at c.US$850 million.
EVRAZ plc expects that in 2019 the effect on EBITDA from efficiency improvement program, which includes the customer focus and cost saving initiatives, will be around US$350 million. The target is to maintain the pace of improvements with the effect of at least 3% from COGS or c.US$300 million per annum going forward. Already identified effect from initiatives for 2019-24 is approximately US$260 million per annum on average.
