The revenues of Metinvest B.V. (the Netherlands), the parent company of Metinvest mining and metallurgical group, in February 2018 decreased by 9.4%, or by $95 million, compared to the previous month, to $914 million from $1.009 billion. According to the preliminary unaudited consolidated monthly financial results of the company, EBITDA for February was $196 million, which is 14% ($32 million) less compared to January ($228 million).
According to the report, the adjusted EBITDA of the metallurgical division of the group in February 2018 was $120 million (in January some $140 million), including $12 million from participation in the joint venture ($11 million), while that of the mining division was $113 million (in January $110 million), in particular from JV some $18 million ($14 million). The management company’s expenses amounted to $7 million.
Total revenues in February 2018 consisted of the income of the metallurgical division in the amount of $778 million ($866 million in January), the mining division in the amount of $322 million ($255 million), while intra-group sales stood at “minus” $186 million (“minus” $112 million). The company’s total debt in February fell by $53 million compared to January, to $3.042 billion from $3.095 billion, while the amount of cash increased by $9 million, to $282 million from $273 million.