MMK's revenue in the first half of the year increased by 82.7% to $5.44 billion

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AK&M 22 July 2021 11:44

MMK Group's revenue in the first half of 2021 increased by 82.7% to $5.44 billion year-on-year. This is stated in the message of MMK.

Net profit reached $1.51 billion, EBITDA increased more than 3 times to $2.16 billion. The EBITDA margin increased by 17.3 p. p. to 39.7%. Free cash flow increased to $670 million.

PJSC Magnitogorsk Iron and Steel Works (TIN 7414003633) is one of the world's largest steel producers and occupies a leading position among the ferrous metallurgy enterprises of Russia. The company's assets in Russia are a large metallurgical complex with a full production cycle, starting with the preparation of iron ore raw materials and ending with the deep processing of ferrous metals. MMK produces a wide range of metal products with a predominant share of deep processing products with the highest added value. MMK Group's steel production in the first half of 2018 amounted to 6.176 million tons, which is 1.3% more than in the same period of 2017. MMK's IFRS profit for 2019 fell by 28% to $768 million from $1.072 billion a year earlier. Revenue decreased by 6.5% to $5.844 billion from $6.252 billion, gross profit-by 21.5% to $1.654 billion from $2.108 billion.