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Metalloinvest Announces IFRS Financial Results for Q1 2020

Steel News - Published on Tue, 26 May 2020

Image Source: Metalloinvest
Metalloinvest has published its IFRS financial results for the first quarter ended 31 March 2020. Metalloinvest CEO Nazim Efendiev said “Andrey Varichev, CEO of Metalloinvest, passed away unexpectedly on April 27th. This is a tragic loss for the Company and its thousands of employees. Metalloinvest’s team continues to pursue a dynamic development course defined by Andrey Varichev. The Company confirms its commitment to its key priorities and business strategy.”

Financial highlights
Revenue USD 1,536 million (-17.2% y-o-y)
EBITDA USD 534 million (-26.8%)
EBITDA margin 34.8% vs. 39.3% in Q1 2019
Net Income USD 83 million (-84.6%)

Production highlights
Iron ore 10.3 million tonnes (+7.2%)
Pellets 7.1 million tonnes (+3.4%)
HBI/DRI 2.1 million tonnes (+3.2%)
Hot metal 0.7 million tonnes (+1.5%)
Crude steel 1.3 million tonnes (+7.3%)

Key corporate highlights
Launch of CCM #3 at OEMK’s Electric Arc Furnace Shop following the completion of its technical re-equipping
Approval of the 2020–2025 Environmental Programme with RUB 21 bn in investments
Placement of BO-04 series RUB-denominated bonds in the amount of RUB 10 bn

Source :

Posted By : Yogender Pancholi on Tue, 26 May 2020
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