In January-March, Metalloinvest decreased iron ore output by 2.9% YoY and by 7.2% QoQ, to 9.6 million tons. The decrease has to do with the scheduled repair of machinery at Lebedinsky Mining and Processing Works, as well as the change in the quality of ore mined at LGOK and Mikhailovsky GOK. The manufacture of pellets…
Metalloinvest has elected a new board of directors. In particular, the board now features Ivan Streshensky (chairman), Andrey Varichev, executive director, Vakhtang Kocharov, executive director, Pavel Mitrofanov, non-executive director, Gleb Kostikov, non-executive director, Irina Lupicheva, non-executive director, Valeriy Kazikayev, independent non-executive director, Galina Aglyamova, independent non-executive director, and Dmitry Tarasov, independent director. Vakhtang Kocharov has…
Metalloinvest has signed an agreement with the authorities of the Kursk region and the town of Zheleznogorsk on social and economic partnership in 2019. According to the agreement, the company will invest over 1 billion rubles. “Mikhailovsky GOK is a driver of the regional economy. In 2018 the consolidated budget of the region received over…
Moody’s Investors Service has improved the corporate credit rating of Metalloinvest from Ba2 to Ba1. At the same time the outlook has been decreased from positive to stable. The improvement of the rating reflects the decrease of the debt burden, stable cash flow, a high liquidity level as well as the improvement of the corporate…
In 2018 Metalloinvest received 1.647 billion rubles of net profit, up by 17.1% YoY. Revenue grew by 15.3%, to 7.187 billion rubles. The output of pellets and hot-briquetted iron reached 27.7 million and 7.8 million tons respectively. EBITDA went up by 38.4%. (Ukrainian metal)
Standard and Poor’s has improved the long-term loan rating of Metalloinvest from BB/Stable to BB+/Stable. The rating improvement has to do with the company debt decrease and good operational and financial results shown in 2018. S&P has also improved the ratings of the Metalloinvest Finance DAC eurobonds from BB to BB+. (Ukrainian metal)
In 2018 Metalloinvest produced 5.1 million tons of steel, up by 6.2% YoY. Pig iron manufacture grew by 12.6%, to 3 million tons. HVA products sales share was 43%. In 2018 Metalloinvest produced 40.4 million tons of iron ore, up by 0.2% YoY, and in Q4 – 10.3 million tons, up by 3.5% QoQ. The…
The Expert RA rating agency has confirmed Metalloinvest rating at the ruAA- level with positive outlook. The analysts have positively estimated the financial and operational results of the group in 9 months of 2018, including its vertical integration, high added value output growth and prime cost level control. The increase in profitability and optimization of…