The consolidated net profit of OAO Severstal-auto in accordance with the IAS has increased by 15 % for 2005

According to Nikolay Sobolev, Financial Director of OAO Severstal-auto, the key factor ensuring the successful financial results of the company for the past year was the implementation of cost saving programmes at Severstal-auto enterprises. In particular, the economic benefit received at UAZ and ZMZ on account of implementing the lean manufacturing system was more than 330 million roubles. Besides, the growth of financial indices was promoted by a successful introduction to the market of a new product – the UAZ PATRIOT off-roader, which production was started in the second half of 2005.