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NLMK signs memorandum with EEU manufacturers

NLMK Group has signed a memorandum of industrial cooperation with electrical equipment manufacturers from the Eurasian Economic Union, the company informed.

Together with its partners, the company will facilitate the development of the production technology for next-gen energy effective transformers made of highly-permeable electrical steel.

The memorandum has already been signed by the manufacturers of transformers from Russia, Belarus and Armenia; cooperation opportunities are open for all participants of the Eurasian market.

Novolipetsk Steel (NLMK, tax number: 4823006703) is one of three largest ferrous metallurgy enterprises of the Russian Federation. NLMK Group's key production assets are located in Russia, EU and the USA. NLMK produces a wide range of various metal products. The company's steel production capacity exceeds 17 million tonnes per year. In Q1 2018, NLMK increased steel production by 3% to 4.33 million tonnes.

The company's authorized capital is RUB 5,993,227,240. It consists of the same number of shares with a face value of 1 ruble. The principal owner of NLMK is Fletcher Holdings Ltd. (85.91% of shares) beneficially owned by Board Chairman Vladimir Lisin.

IFRS net profit of Novolipetsk Steel Group for H1 2018 grew by 66.94% to RUB 64.48 billion from RUB 38.624 billion for the same period in 2017. Revenue increased by 29% to RUB 351.095 billion from RUB 272.15 billion, gross profit by 41.85% to RUB 123.196 billion from RUB 86.852 billion, pre-tax profit by 62.82% to RUB 80.033 billion from RUB 49.154 billion. EBITDA went up 41% to $1.727 billion, free cash flow by 66% to $887 million. Net debt/EBITDA decreased to 0.31x from 0.43x in H1 2017.

According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of Novolipetsk Steel (NLMK) for H1 2018 grew by 45.63% to RUB 42.627 billion from RUB 29.271 billion for the same period in 2017. Revenue increased by 22.49% to RUB 239.269 billion from RUB 195.343 billion, sales profit 2.02 times to RUB 54.012 billion from RUB 26.742 billion, pre-tax profit by 53.9% to RUB 52.519 billion from RUB 34.126 billion.

"AK&M", 06.12.2018 18:00


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