Metinvest increased revenue by 4.8% in February

Metinvest B.V. (Netherlands), the parent company of the Metinvest Group, increased its revenue in February 2020 by 4.8% or by $39 million to $860 million against January,

according to the financial results published on the Group’s website.

EBITDA in February ramped up by 76.7% to $129 million against the previous month.

Adjusted EBITDA of steel companies of the Group amounted to $46 million in February ($12 million in January), including -$10 million from joint venture participation (-$8 million in January); EBITDA of mining companies of the Group amounted to $102 million ($75 million in January), including $20 million from joint venture participation ($15 million). Expenses of the parent company amounted to $7 million ($6 million).

Revenue of steel companies of the Group reached $682 million in February ($681 million a month earlier), while that of mining companies was $248 million ($234 million), and intra-group sales totaled $70 ($94 million).

In general, in February the Company sold 377 thousand tons of semi-finished products worth $151 million, 841 thousand tons of finished metal products worth $444 million, 141 thousand tons of coke worth $38 million.

In February, the Group sold 1.705 million tons of iron ore estimated at $166 million, 70 thousand tons of coal concentrate estimated at $12 million.

In 2019, Metinvest B.V. decreased its net profit by 71% to $341 million compared to 2018. Revenue in 2019 was $10.7 billion, 9% down from the previous year.

Metinvest Holding LLC is the managing company of the Metinvest Group. The major shareholders of Metinvest are its co-managing companies SKM Group (71.24%) and Smart Holding (23.76%).