The net profit attributable to shareholders of the Russian metals and mining group Mechel dropped by 81%, to 2.409 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS).
Consolidated revenue decreased by 5%, to 296.567 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) went down by 29%, to 53.428 billion rubles.
Net debt decreased by 23 billion rubles in 2019, to 400 billion rubles, while the net debt/EBITDA ratio rose to 7.5 from 5.6 as of the end of 2018.
In October-December 2019, Mechel’s net loss widened to 9.765 billion rubles from 571 million rubles in July-September 2019. Revenue fell by 9%, to 68.376 billion rubles, and EBITDA decreased by 32%, to 9.361 billion rubles. (Prime/Ukrainian metal)