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Metinvest's revenues increased by $ 32 million in July

Ukraine / Business and Finance

The revenue growth was driven by a $ 27 million increase in revenues and a $ 10 million contraction in Metinvest's debt in July.

Metinvest's revenues increased by $ 32 million in July

Revenue of the Dutch mining and metallurgical holding with assets in Ukraine Metinvest B.V. (Metinvest) in July this year increased by 1.6%, or $ 27 million compared to the previous month - up to $ 1.749 billion. This is stated in the preliminary unaudited consolidated monthly results of the company's financial statements released on Tuesday.

Consolidated Underlying EBITDA for July reached $ 963 million, up 32 million, or 3.4%, up from the previous month. According to the report, Adjusted EBITDA of the Group's metallurgical division for July 2021 was "plus" $ 420 million (in June - "plus" $ 401 million; EBITDA of the mining division was $ 610 million, down $ 40 million compared to June.

Metinvest's total revenue in July consisted of $ 1.362 billion in the metallurgical division ($ 1.303 billion in June), and $ 690 million in the mining division ($ 713 million in June). Intragroup sales were $ 303 million.

Metinvest's total debt in July decreased by $ 10 million compared to June - to $ 2.449 billion. At the same time, the amount of funds increased by $ 631 million - up to $ 2.074 billion.

Metinvest received $ 70 million in July due to the resale of square billets (produced at the Dnieper Metallurgical Plant) in the amount of 94 thousand tons. In addition, $ 254 million was received from the resale of 225 thousand tons of flat products, 79 thousand tons of long products - $ 67 million, 53 thousand tons of pig iron - $ 44 million.

In general, the company in July sold 370 thousand tons of semi-finished steel products for $ 287 million, 809 thousand tons of finished metal products for $ 913 million, 186 thousand tons of coke for $ 87 million. In July, Metinvest sold 1.437 million tons of iron ore for $ 366 million, 82 thousand tons of coal concentrate for $ 12 million.

The main shareholders of Metinvest are Rinat Akhmetov's SCM group (71.24%) and Vadim Novinsky's Smart Holding (23.76%), jointly managing it. Metinvest Holding LLC is the management company of Metinvest Group.

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