In January – Sept, MMK made a net profit by ISA of $106 million
Edited by Rhod Mackenzie / 2014-11-21 11:39:26
Finance Metals and mining Russia Financial results Magnitogorsk metallurgic plant MMK Russia Metals and Mining Steel
In January – Sept, MMK gained net profit by ISA of $106 million compared to net loss of $274 million a year ago. EBITDA increased by 33.4% to $1.215 billion. Revenue reduced by 1.5% to $6.225 billion. Profitability by EBITDA was 19.5% compared to 14.4% a year ago.
In Q3, net profit reduced by 83.6% to $26 million. EBITDA increased by 30.8% to $522 million. Revenue reduced by 3.4% to $2.135 billion. Profitability by EBITDA was 24.4% compared to 18% in Q2. The main reason for reduction of net profit was non-cash flow due to differences in currency exchange of $196 million.
