Metinvest considers issues of strategic partnership with Italian companies in Ukraine, the company CEO Yuri Ryzhenkov has said at the Ukrainian Restoration Conference in Italy. “Ukraine lost manufacture of slabs and rails because of the destroyed plants in Mariupol. This is a problem, since Italy was a major consumer of Ukrainian slabs. On the other…
Metinvest B.V. has announced a final payment on bonds with maturity in 2023 in time and in full. “The clearing of 2023 bonds is a considerable achievement during the war and an important event for corporate issuers connected with Ukraine. Despite complex conditions, the group has demonstrated the stability of its obligations to bond holders.…
Supervisory boards of Pokrovskoye Mine Group, Avdiivka Coke and Chemical Works, Zaporozhogneupor and Mine-Construction Group No. 1 have prolonged the offices of their CEO for another year. Thus, Pokrovskoye MG prolonged the office of its CEO Valeriy Yakovenko from April 5 to April 2, 2024. The acting CEO of Avdiivka Coke Yuri Ktsinenko will remain…
In the second half of 2022, Metinvest worked on the level of break-even. Mining segment EBITDA totaled $248 million and metal segment – $20 million. Overall EBITDA was $315 million, down from $3.25 billion in H1 2021. Capital investments amounted to $147 million. $31 million was invested in metal manufacture and $113 million – in…
Steel manufacture at Metinvest plants is 60-65% loaded, while mining and processing companies are working with the 25-40% loading. “After a year of war we see stabilization at our foreign assets, in particular, in Italy, where manufacture has been resumed. We are reconstructing logistics and supply chains of our two plants in Italy and the…
Over the year of the war with Russia, Metinvest has decreased the number of its employees by 40 thousand and intends to fire 5 thousand more. During the war, the Metinvest staff dropped to 60 thousand. “We lost a half of our business. Two major enterprises – Mariupol Ilyich Iron and Steel Works and Azovstal…
In January-June 2022, Metinvest B. V. revenue amounted to $5.27 billion, down by 38% YoY. In particular, metallurgical segment revenue dropped by 44%, to $3.6 billion, and mining – by 18%, to $1.67 billion. EBITDA decreased by 59%, to $1.56 billion: metallurgical division – by 84%, to $287 million, and mining – by 47%, to…
Metinvest positively sees the decision of the Cabinet of Ministers of Ukraine to allow companies to import electricity during its shortage on domestic market. “Metinvest decided to use this opportunity to organize purchases of electricity for its own needs, which allowed increasing quotas for electricity supply,” the company said. The decision has already positively affected…
In 2022, Metinvest produced 10.712 million tons of iron ore concentrate, down by 66% YoY. Pellets manufacture dropped by 45%, to 3.185 million tons. In Q4 2022, concentrate output grew by 108 thousand tons QoQ, but pellets decreased by 41%, to 489 thousand tons. Coal concentrate output last year went down by 11%, to 4.959…
In 2022, Kryvyi Rih enterprises of Metinvest paid 9.2 billion UAH to the state and local budgets. Income tax amounted to 2.67 billion UAH, single social contribution – 1.31 billion UAH and personal income tax – 1.12 billion UAH. Despite the martial law, the enterprises increased subsoil rent payment to 3.1 billion UAH and land…
To develop Ukrainian enterprises that extract iron ore, Metinvest needs to find a constant customer. That’s how the group CEO Yuri Ryzhenkov commented the plans to buy Dunaferr. “We have never made it secret that other European assets are of interest for us. Metinvest has been looking at European assets all the time, especially in…
Since the beginning of the Russian invasion, Metinvest logistics expenses on the transportation of iron ore abroad have grown almost 3-fold. “While before the war our logistics from Kryvyi Rih to China cost $35-40, now it’s $125-130 per ton of raw materials. And that’s the most economically profitable route – the Danube and the Port…
Under its “Steel Front” initiative, Metinvest has sent mortar tripods and bulletproof vests to defenders of Bakhmut. In particular, recently the group has provided 10 tripods. Soon 20 more tripods will be supplied. Moreover, the defenders also received 100 bulletproof vests. So far, Metinvest has provided more than 150 thousand bulletproof vests, either produced or…