Business news from Ukraine

METINVEST SEES EBITDA RISE BY 16% IN MAY

5 August , 2021  

The revenue of Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and metallurgical group, in May this year increased by 0.9%, or $ 14 million, compared to the previous month, to $ 1.569 billion from $ 1.555 billion.
According to the unaudited consolidated monthly results of the company’s financial statements, total EBITDA in May was $ 752 million, which is $ 102 million, or 15.7%, more than in April ($ 650 million). At the same time, EBITDA from participation in the joint venture amounted to $ 147 million (in April – $ 101 million).
According to the report, the adjusted EBITDA of the metallurgical division of the group for May 2021 amounted to “plus” $ 367 million, including $ 46 million from participation in the joint venture; EBITDA of the mining division – $ 460 million, including from the joint venture – $ 101 million. The management company spent $ 5 million.
Total revenue in May consisted of $ 1.244 billion of the metallurgical division and $ 583 million of the mining division. Intragroup sales were $ 258 million.
The total debt of Metinvest in May decreased by $ 247 million compared to April, to $ 2.925 billion from $ 3.172 billion. At the same time, the volume of funds increased by $ 35 million, to $ 1.239 billion from $ 1.204 billion.
Funds used in investment activities amounted to $ 43 million, in financial activities – $ 251 million.
In May, the group sold 1.474 million tonnes of iron ore for $ 308 million, 59,000 tonnes of coal concentrate for $ 8 million.
The main shareholders of Metinvest are SCM Group (71.24%) and Smart Holding (23.76%), which jointly manage it.
Metinvest Holding LLC is the management company of Metinvest Group.

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