NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated metals company, today released its 2Q and 6M operating results. 2019.
Key indicators of Q2. 2019:
- Steel production decreased by 5% qoq to 4 million tonnes due to the start of overhauls of NLMK's blast furnace and converter facilities. A 9% y /y decrease in production was also due to this factor.
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Sales volumes decreased by 7% qoq to 4.3 mt (-3% yoy), mainly by against the background of a decline in production and sales of commercial slabs and billets. As a result, the share of sales of products with high added value increased by 2 pp. QoQ (+1 pp YoY).
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Sales volumes in home markets grew by 11% QoQ (+ 12% YoY ) to 3 million tons amid seasonal growth in demand for long and flat products in Russia. The share of the Group's sales in the “home” markets increased to 71% (+14 pp qoq, +9 pp yoy).
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export markets fell to 1.2 million tonnes (-40% qoq; -26% yoy). The decline in exports was due to a decrease in exports of semi-finished products against the background of repairs at the NLMK site.
Key indicators 6 mon. 2019:
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Steel production decreased by 6% YoY to 8.2 million tonnes due to the start of overhauls of NLMK's blast furnace and converter facilities.
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Sales increased by 4% YoY to 8.9 million tonnes due to the growing demand for finished steel in the Russian market, as well as due to the sale of stocks accumulated at the end of the year 2018. The share of products with high added value increased by 1 pp. YoY
- Sales in home markets increased to 5.6 million tonnes (+ 7% YoY) due to increased demand for long products in the Russian market. Export sales rose 1% YoY to 3.2 million tonnes.
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