Metinvest B.V. (the Netherlands), the parent company of the Metinvest international vertically integrated mining and metal group, cut net profit by 71.5% in 2019 compared with 2018, to $341 million from $1.188 billion with the decline in margin by 7 percentage point (pp), from 10% to 3%.
According to the audited consolidated financial results for 2019 released by the company on Wednesday, its revenue for decreased 10%б to $10.757 billion, earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 52%, to $1.213 billion with a drop in margin of 10 pp, to 11% from 21%.
The total debt of the company in 2019 increased 11% compared to 2018, to 3.032 billion from $2.743 billion. At the same time, cash and cash equivalents decreased 2%, to $274 million from $280 million.
Net debt grew by 12%, to $2.758 billion.
Capital investment increased 17%, to $1.055 billion from $898 million.
The main shareholders of Metinvest are SCM Group (71.24%) and Smart Holding (23.76%), jointly managing the company.
Metinvest Holding LLC is the managing company of Metinvest Group.
