Metinvest increased revenue by 7.4% in July

In July, Metinvest B.V., the holding company of the Metinvest Group, increased its revenue by 7.4% to $910 million compared to the previous month, according to the financial results published on the Group’s website.

In July, revenue of the steel segment of Metinvest B.V. amounted to $700 million (against $690 million in June).

The Group’s EBITDA reached $204 million in a month (against $54 million in June).

Metinvest B.V.’s debts slightly grew compared to June, from $3.010 billion to $3.081 billion. Cash and cash equivalents increased by a third to $611 million.

The amount of funds allocated for investment was minus $63 million, financial activities $28 million.

In July, Metinvest received:

• $61 million profit from the resale of 153 thousand tons of square billets;
• $328 million from the resale of 683 thousand tons of flat products;
• $72 million from the resale of 143 thousand tons of long products;
• $66 million from the resale of 211 thousand tons of cold pig iron.

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%).

In 2019, Metinvest B.V. decreased its net profit by 71% to $341 million against 2018. The Group’s revenue in 2019 was $10.7 billion, 9% down from the previous year.