For the first time in the last 8 years Izhstal, a part of Mechel, has received net profits – 121.4 million rubles in 2016.
Its net losses amounted to 1.5 billion rubles in 2015 and 1.8 billion in 2014.
In 2016 Izhstal received net profits only in the second half. Q4 2016 saw 205 million rubles of net profit, Q3 – 185 million. Revenues of the last quarter of 2016 dropped by 22% QoQ, to 3.79 billion rubles.
In 2016 Izhstal revenue increased by 46% YoY, to 14.36 billion rubles, sales profits reached 697 million rubles, as opposed to 106 million rubles of losses in 2015.
Last year the company increased output and sales by 50% YoY. Output totaled 378 thousand tons, sales – 375 thousand. Steel production increased by 32% YoY, to 261 thousand tons, rolled metal – by 33%, to 343 thousand tons. (Ukrainian metal)