In 2019 Metinvest increased steel output by 3% YoY, to 7.578 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased manufacture by 321 thousand tons due to the commission of the continuous casting machine No. 4. At the same time, Azovstal decreased output by 66 thousand tons because of the pig iron production…
In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)
In 2019 Metinvest spent around the same amount of money on investments as in 2018. Last year it was able to finish all the scheduled key projects – modernization of the blast furnace No. 3 at Azovstal and the mill-1700 at Mariupol Ilyich Iron and Steel Works. “We are also going forward with our environment…
Metinvest continuously modernizes its Mariupol Ilyich and Azovstal Iron and Steel Works. In particular, $82.6 million were invested in environmental projects in 2019. Mariupol Ilyich finished reconstructing its gas-purifying machine No. 3, while the modernization of the sintering factory is drawing to an end. At the same time, Azovstal has commissioned a dust-exhaust machine for…
In December Metinvest enterprises did not receive VAT reimbursement in the amount of 1.5 billion UAH. In particular, Mariupol Ilyich Iron and Steel Works has not received some 1 billion UAH. Because of that the employees are worrying about the delays in their salary payment. According to Ukrmetallurgprom president Alexander Kalenkov, the State Tax Service…
In January-September Metinvest EBITDA decreased by 39% YoY, to $1.234 billion. This was mostly due to a decrease of Metal EBITDA by $1.085 billion. At the same time, Mining EBITDA grew by $271 million. Moreover, average sale prices of metal products have decreased, while expenses have grown. In particular, expenses on raw materials increased by…
In January-September Metinvest increase investments by 24% YoY, to $770 million. The share of strategic projects dropped to 35% from 39%. In particular, scheduled repairs of manufacturing facilities accounted for 65% (61%) The key project was the capital repair of Azovstal blast furnace No. 3 with the construction of pulverized coal injection system, completed in…
As of September 30 Metinvest debt has decreased by 3% since the start of the year, to $2.656 billion. The decrease is due to a partial repayment of a pre-export financing and the deferred remuneration for the purchase of 24.77% in the Pokrovskoye Mine Group. In 9 months Metinvest attracted over $50 million as loans…