Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in 2017 increased capital investments by 45% compared to the previous year, to $542 million.
According to the audited consolidated financial results for 2017, expenditures on support projects accounted for 83% of total investments (75% in 2016), on strategic projects some 17% (25%).
At the same time, the metallurgical segment accounted for 51% of capital investments (52% in 2016), mining for 48% (46%).
Corporate expenses were $9 million for the reporting period ($4 million for 2016).
The total amount of net cash used in financing activities in 2017 was $110 million, which is 5% more than a year ago.
Net cash used in investing activities increased by 36% over the period compared to 2016, to $449 million. The total cash flow for the acquisition of fixed assets and intangible assets was $465 million, which is 30% more than in 2016. There were no proceeds from the sale of subsidiaries and affiliated companies, while in January 2016 the company received $6 million from the sale of its stake in Black Iron (Cyprus) Limited. Proceeds from the sale of fixed assets and intangible assets stood at $1 million compared with $3 million in 2016. The total amount of interest received was $15 million compared to $18 million in 2016.
