The overall debts of Metinvest in the first half-year of 2015 decreased by $162 million.
According to the group financial director Alexei Kutepov, that was thanks to the credit compensation and trade financing. At the same time, cost price of sales fell by $1.27 billion YoY.
“With prices and consumption falling we were able to save some $484 million by decreasing expenses on raw materials and $110 million on natural gas. Distribution and various administrative expenses decreased by $145 million YoY”, he added.
Metinvest financial results for H1 clearly show the affect of the military conflict worsened by the world metal price fall. (Ukrainian metal)