A new steel service center, MMK-Dzhoshkunoz-Alabuga LLC, was solemnly opened in the Republic of Tatarstan on May 14, according to the press service of Magnitogorsk Iron & Steel Works (MMK).
The new center is a joint project of MMK and Dzhoshkunoz-Alabuga LLC, a manufacturer of stamped steel parts for the automotive industry. The center is located in the Alabuga SEZ, Russia?s largest special economic industrial and production zone.
MMK-Dzhoshkunoz-Alabuga produces steel articles (blanks) used for the manufacture of vehicle components. The production capacity of the steel service center is up to 60,000 tonnes per year.
The prospective customers of the new center include Ford, KAMAZ, Kamaz-Daimler, ARNPO, Nissan, AvtoVAZ, GM-Avtovaz, UAZ, GAZ and other companies.
PJSC Magnitogorsk Iron & Steel Works (MMK, tax number: 7414003633) is among the largest world steel manufacturers leading in Russia's iron and steel industry. The company's assets in Russia are a large iron and steel complex that encompasses the entire production chain from preparation of iron ore to advanced processing of rolled steel. MMK produces a great variety of metal products where high-level-processed goods of greatest added value prevail. In 2017, MMK produced 12.86 million tonnes of steel, which is 2.5% above the previous year's result. In Q1 2018, MMK increased steel production by 2.7% to 3.147 million tonnes.
As of March 31, 2018, the company's shareholding structure included Minta Holding Limited (84.26% of the authorized capital). Minta Holding Limited is beneficially owned by Viktor Rashnikov, Chairman of the MMK Board of Directors.
IFRS net profit of MMK Group for 2017 decreased by 5.45% to RUB 69.429 billion from RUB 73.432 billion the year before. Revenue increased by 17.73% to RUB 439.972 billion from RUB 373.699 billion, operating profit decreased by 11.79% to RUB 85.048 billion from RUB 96.412 billion, pre-tax profit by 1.58% to RUB 87.247 billion from RUB 88.646 billion. EBITDA increased by 23.8% against the 2016 result adjusted for the effect from the sale of a stake in FMG.
IFRS net profit of MMK Group for Q1 2018 grew by 16% year-on-year to $279 million. The company's revenue increased by 23.8% year-on-year to $2.055 billion from $1.66 billion.
According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of PJSC Magnitogorsk Iron & Steel Works (MMK) for 2017 decreased by 0.98% to RUB 67.3 billion from RUB 67.968 billion the year before. Revenue increased by 15.83% to RUB 392.782 billion from RUB 339.111 billion, sales profit by 8.5% to RUB 86.463 billion from RUB 79.689 billion, pre-tax profit by 1.31% to RUB 84.257 billion from RUB 83.165 billion.
According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of PJSC Magnitogorsk Iron & Steel Works (MMK) for Q1 2018 grew by 30.03% to RUB 18.699 billion from RUB 14.38 billion for the same period in 2017. Revenue increased by 15.22% to RUB 107.762 billion from RUB 93.527 billion.
"AK&M", 15.05.2018 12:13