Date: 4 weeks ago   Category: Industry

The quarter profit of Mechel grew by 3.4 times — Rambler News Service


The net profit of the Russian mining company "Mechel" following the results of the I quarter was 11.33 billion rubles, having increased in annual terms by 3.44 times, follows from the reporting of the company under IFRS. Revenue for the reporting period remained at the previous level and was 74.856 billion rubles, operating profit decreased by 19% to 10.84 billion rubles, the indicator of EBITDA decreased by 17% up to 15.32 billion, and profitability on EBITDA decreased by 5 percentage points up to 20%. At the same time revenue from external contracts in the extracting segment grew by 8% to 24.545 billion rubles, intersegment — for 1% to 9.47 billion rubles. Revenues of Mechel in a metallurgical segment under external contracts were reduced by 5% to 42 billion rubles, intersegment revenue was left without changes — 1.595 billion rubles. In a power segment the proceeds from external buyers grew by 5% to 8.25 billion rubles, intersegment income increased by 9% to 4.4 billion rubles. The Mechel group is mining and metallurgical holding which includes 20 enterprises for production of coal, iron ore, steel, a hire, ferroalloys, thermal and electric energy. The products of Mechel are sold on Russian and the foreign markets. The chairman of the board of directors of Mechel Igor Zyuzin is the main shareholder of group.

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