Revenue of Metinvest B.V. (the Netherlands, the parent company of the Metinvest group of steel and mining companies, grew by 13.6% in May 2020 compared with the previous month, to $843 million from $742 million.According to unaudited operational results posted by the company on Tuesday, EBITDA in May was $162 million, which is $36 million more than in April ($126 million), EBITDA from participation in JV was $16 million ($15 million in April).
According to the report, adjusted EBITDA of the metal division of the group in May 2020 totaled $39 million ($64 million in April), including minus $6 million from participation in JV (minus $1 million), EBITDA of the mining division was $112 million ($94), including from participation in JV $22 million ($16 million). Expenses of the managing company were $7 million ($6 million).
Total revenue consisted from revenue of the metal division in the amount of $631 million ($580 million in April), revenue of the mining division totaling $291 million ($240 million) and intra-group sales totaled $79 million ($78 million).
Total debt grew by $25 million in May, to $3.098 billion. At the same time, the amount of cash decreased by $10 million, to $260 million from $270 million.
The funds used in investing activities amounted to $95 million, in financial activities $27 million.