Russia: PMH revenue down in 2019

In 2019, Industrial and Metallurgical Holding (PMH) increased net profit by 372% YoY, to 6.1 billion rubles due to exchange rate differences. Revenue dropped by 3%, to 86.8 billion rubles, mostly because of the decrease of pig iron and coke products prices, as well as a fall in coal output. Gross profit decreased by 15%.…

Russia: Kuzbass coal output down in February 2020

In February, Kuzbass yielded 17.1 million tons of coal. 10.1 million tons accounted for pits (12.5 million tons in February 2019) and 7 million for mines (6.5 million tons). Coking coal accounted for 6.5 million tons (5.9 million tons) and power-generating coal – 10.6 million tons (13.1 million tons). Factories processed 10.3 million tons (9.9…

Russia: NLMK to revise capital allocation in 2020

Due to increased volatility on global markets associated with the COVID-19 outbreak, NLMK Group is withdrawing its previously issued guidance on 2020 capex program of $1.1-1.2 billion for a downward revision. Commencement of certain expansion projects could be postponed. At the same time, the company is proceeding with its major overhauls at NLMK Lipetsk primary…

Russia: Tagmet losses down in 2019

In 2019, Taganrog Iron and Steel Works decreased losses by 800 million rubles, to 1.3 billion rubles. In 2018, losses amounted to 2.1 billion rubles. At the same time, revenue also dropped. While in 2018 it was 43.8 billion rubles, last year it constituted 43.5 billion rubles. (Ukrainian metal)