In the first half of 2019, MMK Group allocated 1.04 billion roubles to social support programmes and charitable causes. Among the priority areas of social support were assistance to pensioners and children, as well as the improvement of health conditions for the employees of the company.
The full range of social and charitable programmes implemented by the Magnitogorsk Iron and Steel Works (MMK) addresses all categories of the population. In the first half of the year, expenses were distributed as follows:
In total, taking into account the costs of housing, youth, educational programmes and other voluntary social initiatives of MMK Group, the total cost of social programmes and charity amounted to 1.04 billion roubles in the first half of the year. Of this amount, 753.5 million roubles went to the parent company while the remainder was allocated to other companies of the Group.
MMK is one of the world’s largest steel producers and a leading Russian metals company. The company’s operations in Russia include a large steel-producing unit encompassing the entire production chain, from the preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2018, the company produced 12.7 mln tonnes of crude steel and 11.7 mln tonnes of commercial steel products. MMK Group had sales in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln.