MOSCOW, April 15 (RIA Novosti) - Evraz Group S.A. [LSE: EVR], Russia"s largest steel and mining company, said Tuesday its steel output grew 3.9%, year-on-year, in the first quarter of 2008 to 4.472 million metric tons.

The production of cast iron grew 2.4% to 3.372 million metric tons and the output of iron ore concentrate went up 28.4% to 831,000 metric tons in the reporting period, Evraz Group said.

On April 2, Evraz Group posted 2007 results calculated in accordance with International Financial Reporting Standards (IFRS).

Net profit increased 55.7%, year on year, in 2007 to $2.14 billion, revenue grew 54.5% to $12.8 billion, operating profit climbed 53.3% to $3.52 billion, and earnings before interest, taxes, depreciation and amortization (EBITDA) were up 61`% to $4.25 billion.

Crude steel production grew 1.9%, year-on-year, in 2007 to 16.4 million metric tons.

Apart from operations in Russia, Evraz Group also controls the U.S.-based Strategic Minerals Corporation and South Africa"s Highveld Steel and Vanadium Corporation Limited. In late January 2008, Evraz closed a deal to acquire the U.S.-based steel company Claymont Steel.

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