The revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and smelting group, in April 2020 decreased by 13.2%, or $113 million compared to the previous month, to $742 million from $855 million. According to the company’s preliminary unaudited consolidated monthly financial statements, EBITDA for April totaled $126 million, which is $45 million less than in March ($171 million), while EBITDA from participation in joint venture was $15 million (in March $28 million).
According to the report, the adjusted EBITDA of the group’s metallurgical division in April 2020 amounted to $64 million (in March $108 million), including “minus” $1 million from participation in joint venture (“minus” $3 million). The mining division’s EBITDA is $94 million ($100 million in March), including $16 million ($31 million) from joint venture. The management company’s expenses amounted to $6 million ($9 million).
The total revenue in April consisted of $580 million of the metal division (in March $672 million), $240 million from mining ($277 million), and $78 million of intra-group sales ($94 million).
The total debt of the company in April decreased by $34 million compared with March, to $3.073 billion from $3.107 billion. At the same time, the amount of cash decreased by $58 million, to $270 million from $328 million.
The funds used in investing activities amounted to $67 million, in financial activities $11 million.
Metallurgical enterprises of Ukraine cut steel smelting by 1% in 2019 compared with 2018, to 20.848 million tonnes.
According to the reference documents of the Ministry of Economic Development, Trade and Agriculture, which are available to the Interfax-Ukraine, the output of total rolled metal also decreased 1%, to 18.387 million tonnes, and pig iron production fell by 2%, to 20.064 million tonnes.
At the same time, the agency’s source in the ministry said that scrap metal supplies to metal enterprises last year fell by 10% to 3.011 million tonnes.
In 2019, pipe production fell by 9%, to 1.005 million tonnes, coke – by 7%, to 10.059 million tonnes, and metal products remained at the level of 188,000 tonnes.
Mining enterprises last year increased iron ore production by 4%, to 75.710 million tonnes, production of iron ore concentrate grew by 5%, to 63.084 million tonnes, but they reduced prepared iron ore by 3%, to 51.675 million tonnes, including sinter production that decreased by 2%, to 30.911 million tonnes, and pellets that fell by 3%, to 20.764 million tonnes.