Revenue of Metinvest B.V. (the Netherlands), the parent company of an international vertically integrated group of steel and mining companies Metinvest, in April this year increased by 12.9%, or $178 million, compared to the previous month, to $1.555 billion from $1.377 billion. According to the published preliminary unaudited consolidated monthly results of the company’s financial statements on Wednesday, total EBITDA in April was $650 million, which is $69 million, or 11.9% more than in March ($581 million). At the same time, EBITDA from participation in the joint venture amounted to $101 million (in March – $95 million).
According to the report, adjusted EBITDA of the metallurgical division of the group for April 2021 amounted to “plus” $313 million (in March – “plus” $233 million), including $34 million from participation in the joint venture ($13 million); EBITDA of the mining division – $399 million ($402 million), including from the joint venture – $66 million ($82 million). The management company spent $7 million ($7 million).
The total revenue in April consisted of the revenue of the metallurgical division in the amount of $1.189 billion (in March – $1.045 billion), and the mining division – $563 million ($513 million). Intragroup sales were $197 million ($182 million).
The total debt of Metinvest in April decreased by $101 million compared to March, to $3.172 billion from $3.273 billion, whiles cash and cash equivalents increased by $234 million, to $1.204 billion from $970 million.
Net cash used in investing activities amounted to $60 million, and in financing activities – $156 million.
Metinvest received $46 million from the resale of square billets produced by (Dniprovsky Iron and Steel Works of ISD Corporation) in April in the amount of 75,000 tonnes. In addition, $218 million were received from the resale of 272,000 tonnes of flat-rolled products, 80,000 tonnes of long products – $58 million, and 115,000 tonnes of cast iron – $70 million.
In general, the company in April sold 440,000 tonnes of semi-finished products for $277 million, 967,000 tonnes of finished metal products for $786 million, and 183,000 tonnes of coke for $58 million.
In April, the group sold 1.779 million tonnes of iron ore for $333 million, and 178,000 tonnes of coal concentrate for $22 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 management company of Metinvest Group.