Mechel intends to reach agreements with its main creditors to postpone debt-clearing time. In 2016 the company agreed with the state banks and restructured the larger part of its debt, having postponed payments to 2020-2022. The company has started new talks with its creditors believing that the current cash flow will not be enough to…
In January-June Mechel profit accountable for shareholders grew 2.7-fold, to 12.75 billion rubles. Consolidated revenue dropped by 2%, to 153.3 billion rubles. EBITDA decreased by 27%, to 30.35 billion rubles. In Q2 profit fell by 88% QoQ, to 1.4 billion rubles, revenue increased by 5%, to 78.5 billion rubles, but EBITDA dropped by 2%, to…
Russian metals and mining group Mechel keeps plans to raise coal output in 2019 despite a 16% reduction in January-June, the company said in a statement on August 15. “Growth of coal production volumes will continue in the coming periods. Despite the planned reduction in production in the first quarter of 2019, coal production will…
Mechel has signed a contract with Jiangsu Sha Steel Group, the largest private steel manufacturer in China, on coal delivery. The new contract will be valid from September 2019 till August 2020. Mechel will have to ship 720 thousand tons of premium coking coal produced at Yakutugol to JSS. The price will be based on…
Debt-ridden metals giant Mechel has suggested its creditor banks reschedule repayment of a 347.5-billion ruble body of the debt for two years to 2024-2026, Deputy Chairman of one of the key creditors, Sberbank, said on July 24. “Mechel sent an updated financial model to the banks in June and asked to reschedule core debt repayment…
In January-June the net loss of Mechel totaled 352.683 million rubles, down 22.3-fold YoY. Revenue grew 1.6-fold, to 9.813 billion rubles. Gross profit increased 1.6-fold, to 9.795 billion rubles. Sales profit was 9.039 billion rubles, up 1.6-fold. (Ukrainian metal)
Until 2024 Mechel will carry out an environment program with the combined volume of investments of 10 billion rubles. As the result, pollution will decrease by 14.2 thousand tons per year. This is stipulated in the agreement between Mechel, the Ministry of Nature, the Russian Nature Oversight Service and the Chelyabinsk region authorities. The modernization…
Igor Khafizov has been appointed CEO of Mechel-Mining. He has replaced Pavel Shtark, who has been appointed the Mechel deputy CEO on prospective development. Khafizov has been working for Mechel for 27 years. Since 2017 he has been Mechel-Mining deputy CEO. He was responsible for the operation of Yakutugol and Elgaugol. (Ukrainian metal)
