In April Metinvest EBITDA increased by 41.67% MoM, or by $40 million, to $136 million, while its net income dropped by 9.1%, or by $60 million, to $603 million. According to the company statement, in April it sold 183 thousand tons of semi-finished products valued at $74 million. The group also sold 597 thousand tons…
The Supreme Court of Ukraine decided to send the cassation claim of Metinvest to Dneprovsky Iron and Steel Combine, a part of Industrial Union of Donbass, on the iron ore case to the Higher Commercial Court of Ukraine for another round of review. On November 9, 2016 the Higher Commercial Court of Ukraine decided to…
Prime Minister of Ukraine Volodymyr Groisman visited Azovstal Iron and Steel Works on June 1. During his visit, the head of the government had a look at blast furnace No. 4, the most innovative and environmentally friendly smelting facility in Ukraine. Enver Tskitishvili, Azovstal CEO, and Yuri Zinchenko, Mariupol Ilyich Iron and Steel Works CEO,…
The Metinvest group minimal wage equals to the average salary in Ukraine, Prime Minister Vladimir Groysman said during his visit to the city of Mariupol and Azovstal Iron and Steel Works. The company CEO Enver Tskitishvili noted, that in June the salary across the group increased by 20% on average. (Ukrainian metal)
Metinvest demands the reimbursement of VAT for 2016 for the works, the control over which was lost in mid-March. According to the group statement, the state debt on VAT reimbursement to the companies on the uncontrolled territories of Donbass stands at $35 million. At the same time, Metinvest claims that in 2016 VAT reimbursement to…
In 2016 the net profit of Metinvest totaled $118 million as opposed to $1.003 billion of net losses in 2015. EBITDA increased 2-fold, to $1.153 billion. Among other things, the EBITDA increase was the result of the drop of raw materials prices, mainly coal, coke and scrap (by $94 million), partially compensated for by the…
Metinvest Group won the Corporate Social Responsibility award at Platts Global Metals Awards 2017. This victory is a proof of the company’s commitment to principles of corporate social responsibility and world’s best business practices in HSE, and employee, business partner and community relations. Among the winners of the Corporate Social Responsibility award are also Thyssenkrupp…
The terrorist organization Donetsk People’s Republic, created and supported by Russia, is engaged in preparing Metinvest and Donetskstal companies for operation. Control over the companies on the territory of the Antiterrorist operation was lost on March 15. According to a source, the management of the companies has been given to Sergey Kurchenko, an ally of…