As per its financial results according to international financial reporting standards (IFRS) for the full year of 2015, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest recorded a net profit of $217.7 million, increasing from the net profit of $66.24 million in 2014, while its revenues decreased by 31 percent year on year to $4.39 billion.
Metalloinvest's EBITDA decreased by 27 percent year on year to $1.43 billion in 2015 and its EBITDA margin, which had been 30.8 percent in the previous year, rose to 32.6 percent.
Metalloinvest stated that in 2015 it worked to optimize its debt structure and sustain its liquidity position, adding that it will continue to further improve its debt portfolio in the current year. The company is also continuing its capacity development program in the current year and, following the launch of the pellet plant No. 3 at Mikhailovsky GOK last year, it plans to complete the construction of the HBI-3 plant at Lebedinsky GOK at the end of 2016 and in early 2017.