OAO Severstal has been named best overall in the investor relations category for large cap companies at the IR Magazine Russia & CIS awards ceremony.
The event was held on July 12 at the Ritz-Carlton hotel in Moscow. The winners of the awards are selected by Thomson Reuters Extel, IR Magazine Russia & CIS’s research partner, through their independent 2012 Russia IR Survey. Contributors to the survey include more than 359 respondents from 270 brokerage firms and research houses, with 27 percent of respondents from Russia, 20 percent from the U.K. and 11 percent from the United States, according to SteelGuru.
Severstal beat out competitors NLMK and Gazprom for the top prize.
Vladimir Zaluzhsky, the head of investor relations for Severstal, said that the award was “a reflection of our team work. I would like to say thanks to everyone at Severstal who assists and supports the company’s IR activity, helping us to make Severstal more transparent for investors at a time when it is most important,” SteelGuru reports.
The awards ceremony has been held by IR Magazine for more than 20 years and is considered to be the most prestigious event on the IR calendar.
In 2011, Severstal delivered a leading performance among the Russian steel companies in terms of EBITDA, EBITDA margin and ROCE. The company is looking to expand projects and operations in 2012 with the construction of a new rolling mill in Balakovo, as well as the continuing development of a large iron ore deposit at Putu in Liberia and coalfields in Tyva and the Komi Republic, SteelGuru reports.