Metalloinvest Finance Designated Activity Company
Metalloinvest Finance Designated Activity Company: METALLOINVEST ANNOUNCES INTERIM FINANCIAL RESULTS FOR Q3 AND 9M 2019
Metalloinvest Finance Designated Activity Company (IRSH)
METALLOINVEST ANNOUNCES INTERIM FINANCIAL RESULTS FOR Q3 AND 9M 2019
Moscow, Russia – 28 November 2019 – Metalloinvest (‘the Company‘), a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, publishes its IFRS interim financial statement (unaudited) for the third quarter and nine months ended 30 September 2019. Management comments Alexey Voronov, Finance Director of Management Company Metalloinvest, commented: “In the third quarter of 2019 steel prices continued to demonstrate weak dynamics, which was partially offset by the outperformance of average iron ore prices. As a result, the Company’s consolidated EBITDA for nine months of 2019 amounted to USD 2.1 bn, largely due to a 25% increase in the mining segment EBITDA. Due to the deep processing of iron ore products and competitive cash costs, business profitability remains strong. The Company’s leverage remains at a comfortable level, with a Net Debt / EBITDA LTM of 1.29x at the end of the reporting period.”
PRODUCTION HIGHLIGHTS
KEY CORPORATE HIGHLIGHTS IN Q3 2019 Operational developments and capital expenditure
Financing
Social responsibility and corporate governance
Full press release and financial statements are available at: http://www.metalloinvest.com/en/investors/financial-results/
For further information, please contact: Artem Lavrischev T: +7 (495) 981-55-55, ext. 7243
Anton Troshin T: +7 (495) 981-55-55, ext. 7629
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel. The Company has the world’s second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers. Metalloinvest is controlled by Holding Company USM LLC. The main beneficiaries are Alisher Usmanov (49%) and Vladimir Skoch (30%). |
ISIN: | XS0918297382 |
Category Code: | MSCL |
TIDM: | IRSH |
Sequence No.: | 32100 |
EQS News ID: | 923815 |
End of Announcement | EQS News Service |