Metinvest will provide assistance to the employees of its Kriviy Rih enterprises, whose flats were damaged by the Russian missile on June 13. This will be a financial assistance to repair housing. According to the group PR director Andriy Scherbak, Metinvest has been supporting its employees since the first day of the full-scale invasion. (Ukrainian…
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…
