Metinvest is evaluating the possibility of supplying hot-rolled metal to alternative markets because of the EU duty. “But even now we see that we will not be able to compensate for the whole volume of the European market. So a decrease in output is possible”, the company said. Metinvest also hopes that the EU will…
The losses of Metinvest in H1 amount to $329 million, or 8% of the consolidated revenue. According to the group statement, losses from the seizure of assets in the temporarily occupied regions of Donetsk and Lugansk regions totaled $293 million, with $228 million being plants and machinery and $82 million – stocks. At the same…
In January-June Metinvest B. V. sold 38% of metal products in Europe, 21% in Ukraine, 20% in the Near East and North Africa and 11% in CIS. Metal revenue reached $1.213 billion, or 38% of the total revenue, with earnings in Europe up by 27% YoY. Experts believe that because of the new European antidumping…
In January-June Metinvest increased EBITDA by 45% YoY, to $839 million. According to the group statement, earnings increased by 36%, to $3.913 billion, but net profit fell by 20%, to $72 million. The EBITDA growth was the result of the increase of sales prices ($1.192 billion), EBITDA share increase in joint companies ($69 million), as…
Metinvest has suggested the European Commission to replace the fixed antidumping duty with price obligations. “Thus, Ukraine is still negotiating the possibilities of replacing this regime of delivery limitations”, a source in the government reported. According to the source, the EC decision clearly states, that unlike with suppliers from other countries, with Ukraine the EU…
By 2030 Metinvest plans to have invested $8.8 billion into modernization of its capacities. “Some $5.7 billion will be invested into metal assets, and $3.1 billion – into mining. This will be the metallurgy combined with IT, the so-called Industry 4.0”, the group marketing director Roman Kurashev said. As an example he named the modernization…
In July Metinvest EBITDA increased by 8.84% MoM, or by $13 million, to $160 million, with revenue up by 1.67%, or by $12 million, to $732 million. According to the group statement, in July it sold 265 thousand tons of semi-finished products valued at $101 million. In particular, it sold 154 thousand tons of pig…
Metinvest enterprises in the city of Zaporozhye: Zaporizhstal, Zaporozhogneupor, Zaporozhkoks and Zaporozhye Casting and Mechanical Works – will employ 250 young specialists. In 5 years Zaporozhye companies employed over 2 thousand graduates from schools and higher educational establishments. The enterprises have a number of educational and motivating programs to improve professional and personal qualifications. Zaporizhstal…
The new subdivision of Metinvest – the Technical Service Department – will deal with orders and technical support of customers, the department director, ex-CEO of Mariupol Ilyich Iron and Steel Works Yuri Zinchenko said. “I’m currently chairing a new and very important division, it’s new both for the company and for the industry – the…
The Supreme Commercial Court of Ukraine has left unchanged the ruling of the Kiev commercial court of appeals as to the volume of the main debt of Dneprovsky Iron and Steel Combine to Metinvest at 5.19 billion UAH instead of 2.566 billion UAH. At the same time the ruling of the Commercial court of Kiev…
On September 18, Metinvest intends to pay $13.22 million to the holders of eurobonds with the maturity date of December 31, 2021. The sum consists of $6.7 million for August 18 – September 18, 2017 of non-guaranteed interest at 6.5795%, paid if the company has free funds over $180 million, as well as $6.318 million…
In June Metinvest increased its corrected EBITDA by 23.5% YoY, to $147 million, but still it was 4.5% below the May level. According to the group statement, its income in June increased by 28.8% YoY, to $720 million, but fell by 2.3% MoM. In May Metinvest EBITDA grew by 13.24% MoM, to $154 million. In…
Moody’s has increased the ratings of Ferrexpo plc, controlling Poltava and Yeristovo Mining and Processing Works, and Metinvest from Caa2 to Caa1. The PDR has been increased from Caa2-PD to Caa1-PD. At the same time Metinvest rating on the national scale (NSR) has been increased from B1.ua to Baa3.ua, while of Ferrexpo bonds from Caa2…
In June Metinvest increased metal sales by 10.5% YoY and by 5.5% MoM, to 1.113 million tons. Earnings grew by 35.7% YoY and by 0.3% MoM, to $608 million. Mining sales decreased by 12.6% YoY and by 23.9% MoM, to 1.294 million tons, valued at $112 million, up by 0.9% YoY, but down by 14.5%…
On May 18 – August 18 Metinvest has paid $14.136 million of interest income on new eurobonds with the maturity date of December 31, 2021. The sum consists of $8.445 million of guaranteed interest income at the rate of 2.793%, as well as a part of 6.7595% interest income, paid only if the company has…
Metinvest mining and processing works have asked the acting chairman of Ukrzaliznytsia Yevgeny Kravtsov to help provide enough railroad wagons. While the enterprises need 4141 wagons, they received only 695 (or 16.7%). In particular InGOK needed 378 wagons from Uzhgorod to Slovakia, but received none, from Chop to the Czech Republic – 162 and 10…
In January-June Metinvest produced 3.92 million tons of steel, 4.01 million tons of pig iron and 2.13 million tons of coke, all down by 6%, 6% and 3% YoY respectively. Q2 steel output drop was 10% QoQ, to 1.85 million tons. At the same time pig iron output increased by 2%, to 2.03 million tons,…
In May Metinvest increased its EBITDA by 13.24% MoM, to $154 million, having increased its earnings by 22.22%, to $737 million. According to the group report, in May it sold 262 thousand tons of semi-finished products valued at $109 million, and 425 thousand tons of other metal valued at $719 million. As well as 74…
In Q1 Metinvest doubled its investments into capital construction YoY, to $103 million. The mining segment accounted for 71% of investments (46% in Q1 2016), while metal segment –28% (52%). The main investments at Mariupol Ilyich Iron and Steel Works include the construction of the continuous casting machine No. 4 and the reconstruction of the…
In April Metinvest EBITDA increased by 41.67% MoM, or by $40 million, to $136 million, while its net income dropped by 9.1%, or by $60 million, to $603 million. According to the company statement, in April it sold 183 thousand tons of semi-finished products valued at $74 million. The group also sold 597 thousand tons…
The Supreme Court of Ukraine decided to send the cassation claim of Metinvest to Dneprovsky Iron and Steel Combine, a part of Industrial Union of Donbass, on the iron ore case to the Higher Commercial Court of Ukraine for another round of review. On November 9, 2016 the Higher Commercial Court of Ukraine decided to…
Prime Minister of Ukraine Volodymyr Groisman visited Azovstal Iron and Steel Works on June 1. During his visit, the head of the government had a look at blast furnace No. 4, the most innovative and environmentally friendly smelting facility in Ukraine. Enver Tskitishvili, Azovstal CEO, and Yuri Zinchenko, Mariupol Ilyich Iron and Steel Works CEO,…