financial results - Latest news GMK Center

The company's income decreased by 59.9% y/y in 2022

The EBITDA of the mining segment in July-December 2022 amounted to $248 million, and the steel segment – -$20 million

The company's retained earnings at the end of last year amounted to 2.94 billion

The company notes an increase in demand for pellets from European steelmakers in the 1Q 2023

The company ended the first half of last year with a net loss of $1.69 billion

In the fourth quarter of 2022, net revenue decreased by 30.4%

In this period, the company increased the sale of seamless pipes by 11% y/y

In particular, the company's performance was affected by the decrease in steel prices

Sales of steel decreased by 9% year-on-year

In 2022, the supply of stainless steel decreased by 7% y/y

The company's revenue for the year increased by 4.3% y/y

Activity in Europe was affected by energy prices and recession concerns