Metinvest increased revenues by 1.5% in January

In January 2021, Metinvest B.V., the holding company of the Metinvest Group, ramped up its revenues by 1.5% to $1.03 billion compared to December 2020, according to the financial results published on the Group’s website.

In January, revenues of the steel segment of Metinvest B.V. amounted to $789 million (against $788 million in December).

Metinvest’s EBITDA in January ramped up by 17.8% to $378 million against the previous month.

Arrears of Metinvest B.V. increased from $2.937 billion in December to $2.950 billion in January. The amount of cash grew by $293 million to $1.119 billion.

The Company spent $54 million for investment and $55 million for financial activities.

In January, Metinvest earned:

• $64 million profit from the resale of 137 thousand tons of square billets;
• $134 million from the resale of 228 thousand tons of flat products;
• $29 million from the resale of 45 thousand tons of long products;
• $45 million from the resale of 94 thousand tons of cold pig iron.

In total, in January the Company sold 456 thousand tons of semi-finished products worth $219 million, 764 thousand tons of finished metal products worth $476 million, 186 thousand tons of coke worth $39 million, 1.54 million tons of iron ore worth $233 million and 53 thousand tons of coal concentrate worth $7 million.

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 2020, Metinvest B.V. increased its net profit by 54% to $526 million compared to 2019. Its revenue in 2020 was $10.45 billion, 3% down from the previous year.