In 2016 Kosogorsky Iron and Steel Works received 83.8 million rubles of net losses as opposed to 391.4 million rubles of profits in 2015.
According to the company statement, revenue decreased by 17.6% YoY, to 8.96 billion rubles.
The company explains the decrease in revenue with the coke and raw material price growth as well as the world metal price drop.
In 2016 KMZ sold mostly to CIS (77%), with local market occupying the share of 18%. Exports to far foreign countries dropped 2-fold, to 3%.
Last year KMZ sold 205.6 thousand tons of pig iron, up by 18% YoY, in Russia and CIS.
Ferromanganese output reached 55.1 thousand tons, down by 4.1 thousand tons YoY, while sales went up by 0.8 thousand tons, with 0.4 thousand tons sold to far foreign countries. (Ukrainian metal)
