Date: 2 weeks ago   Category: Industry

The annual profit of Metalloinvest grew by 17.1% — to $1.65 billion — Rambler News Service


The net profit of the Russian metallurgical company "Metalloinvest" according to IFRS for 2018 was $1.647 billion, having increased in annual terms by 17.1%, the company reports. Revenue for the reporting period grew by 15.3%, to $7.187 billion. "In 2018 the company continued realization of strategy for increase in volumes of production with high added value. Following the results of a year production of pellets and GBZh/PVZh was record 27.7 million tons and 7.8 million tons respectively. Focus of the company on increase in a share of products of advanced processing, favorable market conditions and also implementation of the program of operational improvements allow Metalloinvest to show the steady growth of financial results. So the revenue of the company for 2018 increased by 15.3%, EBITDA – for 38.4%" — the CEO of the company Andrey Varichev said. Metalloinvest is mining and metallurgical holding, producer of commodity goryachebriketirovanny iron and steel, the producer and the supplier of the iron ore and metallized products. 100% of stocks of the company belong to USM Holdings of Alisher Usmanov and Vladimir Skocha's structures.

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