MOSCOW, July 22. /TASS/. Severstal's net profit under the International Financial Reporting Standards (IFRS) for the first half of the year decreased by 21% year-on-year and amounted to 83.32 bln rubles ($948.82 mln) and EBITDA increased by 6% to 126.55 bln rubles ($1.44 bln), the company said in a press release.

The company's revenue in January - June increased by 21% to 409.14 bln rubles ($4.66 bln) due to an increase in average selling prices, including due to a growing share of high value-added products in sales.

Severstal in the first half of the year also reduced steel production by 8% year-on-year to 5.22 mln tons. Pig iron output also decreased by 15% to 4.77 mln tons.

At the same time, sales of Severstal steel products during the reporting period amounted to 5.16 mln tons, decreasing by 6% in annual terms.