The net profit of Russian steelmaker NLMK jumped by 55% YoY, to $1.45 billion in 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on February 20.
Revenue grew by 32%, to $10.065 billion due to an increase in average prices for metals products, a growth of sales volumes, and an increase of the share of finished rolled products in the company’s sales.
EBITDA went up by 37%, to $2.655 billion, while the EBITDA margin grew to 26% from 25%.
In October–December 2017 NLMK’s net profit rose by 20% QoQ, to $428 million, EBITDA grew by 21%, to $786 million, and the EBITDA margin climbed up to 28% from 25%. Revenue gained 10%, to $2.815 billion.
NLMK also said that it planned to produce 4.2 million tons of steel in January-March, flat on the year and down from 4.315 million tons produced in October-December 2017, due to a seasonal contraction in demand and due to scheduled maintenance at the plant in the city of Lipetsk. (Prime/Ukrainian metal)