The Board of Directors of NLMK has approved the company’s Sustainable Development Policy. The policy defines NLMK Group’s sustainability principles, goals and targets, as well as the mechanism for oversight of the company’s ESG agenda by the NLMK Board of Directors. For example, NLMK’s Strategic Planning Committee has been tasked with identifying the company’s strategy…
At a meeting held on October 24 the Board of Directors of NLMK Group approved of the new composition of the group’s Management Board. The board consists of: Grigory Fedorishin, President (Chairman of the Management Board); Mikhail Arkhipov, Vice President, HR & Management System; Tatiana Averchenkova, Vice President, Operational Efficiency; Ilya Guschin, Vice President, Sales;…
NLMK Group has announced its Q3 financial results. Revenue amounted to $2,576 million, down by 8% QoQ, with an EBITDA margin of 25%. Free cash flow totaled $249 million, down by 3%. NLMK Group CFO Shamil Kurmashov: “Q3 saw the situation on the steel markets aggravate due to a weakening in demand and the resulting…
At a meeting held on October 24 NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q3 dividends of 3.22 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on December 20. This is approximately equivalent to 120% of the company’s free cash flow based on its IFRS…
NLMK Lipetsk, the flagship site of NLMK Group, has supplied a trial batch of pre-painted steel with improved coating quality to leading white goods manufacturer LG Electronics plant in Russia. NLMK steel will be used to make washing machine bodies. The trial batch has been successfully tested at LG Electronics Rus plant in the Moscow…
In January-September NLMK decreased steel output by 9% YoY, to 11.9 million tons. In Q3 output dropped by 6%, to 3.7 million tons. Sales in 9 months remained almost unchanged – at 12.9 million tons. Rolled metal sales grew by 2%, to 8.31 million tons, and high added-valued products sales also by 2%, to 3.88…
Russian steelmaker Novolipetsk Steel (NLMK) and Belgian fund Sogepa plan to invest 100 million euros each in the development of NLMK Belgium Holdings (NBH), in which they own a 49% stake each, between 2019 and 2021, NLMK said in a statement on October 10. “Funds allocated to NBH will go towards the execution of Strategy…
NLMK Lipetsk, NLMK Group’s flagship site, has started hot testing at its new furnace for preheating slabs before rolling at Mill 2000. The new reheating furnace will increase NLMK Lipetsk’s hot-rolled steel output by 110,000 tons (+2%), reduce energy consumption by 50% and almost halve air emissions. The new walking beam reheat furnace has replaced…