ZAPORIZHIA. Oct 12 (Interfax-Ukraine) – Zaporizhia iron and steel works (Zaporizhstal), belonging to Metinvest Group, intends in 2015 to increase net profit by 2.2 times compared to 2014, to $150 million from $69 million.
Company CEO Rostyslav Shurma reported that in the first nine months of the current year the plant posted a profit of $118 million. The steel mill intends to gain another $32 million in the fourth quarter.
The CEO also said that EBITDA is expected to reach $300 million. In the first nine months EBITDA amounted to $250 million.
“We hope to earn $50 million EBITDA in the fourth quarter,” the director stated.
The Zaporizhstal head added that the profitability of the enterprise in 2014 amounted to 25%, in 2015 it is expected to reach 19%. The expected debt to EBITDA ratio this year is 0.4.
“The company has virtually no debts,” the CEO said.
Zaporizhstal is one of the largest industrial enterprises of Ukraine, whose steel products are well known and are in demand in the domestic market and in many countries around the world.
