The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) fell by 25.9% YoY, to $497 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 1.
Revenue went down by 7.8%, to $3.835 billion in the period.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 22.6%, to $937 million, with the EBITDA margin shrinking to 24.4% from 29.1%. (Prime/Ukrainian metal)
