In January-September Metalloinvest produced 3.628 million tons of steel, down by 2.7% YoY. The decrease is explained with the capital repairs of the continuous casting machines Nos. 1 and 2 at Ural Stal and the trial operation of the flexible module furnace. Sales dropped by 1.1%, to 3.407 million tons. Semi-finished products accounted for 1.778…
Metalloinvest will redeem its BO-01 bonds with the volume of 10 billion rubles earlier than necessary. The redemption will take place on October 29. The company issued bonds in November 2015 with the interest rate of 11.85% and the maturity rate of 10 years. (Ukrainian metal)
Metalloinvest has signed an agreement with MUFG for ECA-backed financing in the amount of EUR 9.9 million. The loan will be used for the technical re-equipping of CCM-3 at OEMK, with the equipment supplied by Inteco melting and casting technologies GmbH. Insurance cover will be provided by Oesterreichische Kontrollbank AG, the Austrian export credit agency.…
Metalloinvest is expected to invest 64 billion rubles in the construction and modernization of its mining and processing works’ manufacturing capacities until the end of 2024. Construction of a crushing and conveyer complex is underway at the Mikhailovsky GOK, and the second stage of the project has already begun (the construction of new concentrate enrichment…
Metalloinvest has won the SAP Value Award in the “People – the most valuable capital” nomination. The company project to automate personnel management was considered the best. The project has been carried out under the company program of digital transformation together with KSA Group. To transform the personnel management function the company has used the…
Metalloinvest will buy its bonds with the maturity in 2020 earlier than planned. The decision has been taken in order to optimize the group loan portfolio. The bonds had to mature in April 2020. But Metalloinvest decided to take advantage of its make-whole option. The funds to buy the bonds will come from a new…
Metalloinvest has opened a pre-export financing credit line with a number of Russian and international banks. The PFX-2019 amount is 300 million euro, and the maturity rate is 4.25 years. The agreement has been concluded under the strategy to manage loans. The funds will be used to improve the loan portfolio, in particular, to optimize…
In January-July Metalloinvest received $3,854 million of revenue, down by 5.2% YoY. EBITDA dropped by 5.4%, to $1,410 million. Net profit grew by 17.2%, to $1,020 million. Net debt increased by 6.6%, to $3,581 million compared with December 31, 2018. The group mined 19.7 million tons of iron ore, down by 1.8%, and produced 14.1…