Magnitogorsk metallurgic plant MMK, Russia Metals and Mining
The net profit of MMK group under IAS in 2016 rose by 3.3 times against 2015 to 73.43 bln roubles, the company reports.
Closeness to final consumers in the markets of presence and the developed chain of supplies from the Russian assets provide a high loading of the company’s capacities.
MMK OJSC on the results of 2016 more than doubled its net profit under RAS against 2015. In 2016 MMK made a net profit of 67.968 bln roubles against 31 bln roubles in 2015.
In 2016, the net profit of the MMK Group under Russian Accounting Standards (RAS) increased 2.2 times and amounted to 67.9 billion rubles, the company reports.
The net debt of MMK fell by 83% in 2016.
MMK may resume the operation of hot rolling shop at Turkish steel plant MMK Metalurji already in July, its director for economics Andrei Eremin said on February 15.
The net profit of MMK group under IAS in 2016 grew by 2.6 times to $1.1 bln against 2015, the company reports.
The MMK's Board of Directors has approved the date of the annual general meeting of its shareholders - May 26, 2017.
In 2016 MMK sipped over 12.7 thousand tons of zinced pipes.
In 2016, the steel production in the group of the Magnitogorsk metallurgical plant (MMK) increased compared to the previous year by 2.5% to 12.54 million tons, the company reports.