You are here: Home > Steel News > Latest Steel News > Metalloinvest’s...

Metalloinvest’s sales revenues rise in 2021 as iron ore demand recovers

Thursday, 24 February 2022 16:37:35 (GMT+3)   |   Istanbul
       

Russia-based leading global iron ore and hot briquetted iron producer Metalloinvest has announced its financial results for the full year of 2021.

In 2021, Metalloinvest registered a net profit of $4.11 billion, compared to $1.33 billion in 2020, while the company’s sales revenues increased by 65.4 percent to $10.60 billion, due to favorable market conditions and the recovery of demand for iron ore and steel products in the global markets.

In the same year, its adjusted EBITDA amounted to $5.75 billion, rising from $2.47 billion in 2020, against the backdrop of revenue outpacing the growth of costs. Metalloinvest’s EBITDA margin in 2021 rose to 54.3 percent, from 38.5 percent in the previous year.

Meanwhile, the company’s crude steel production totaled 4.9 million mt in 2021, down by 1.3 percent year on year as a result of maintenance works conducted at OEMK’s electric arc furnace No. 4 in the third quarter of 2021. In the given year, the company’s iron ore production amounted to 40.76 million mt, up by 0.8 percent year on year, due to a reduction in repair work downtime and an increase in the average productivity of equipment.


Similar articles

Russia’s Mechel posts lower crude steel and pig iron output for Jan-Sept

15 Nov | Steel News

Kazakhstan’s Qarmet reports higher steel production for January-September

14 Oct | Steel News

Mechel’s crude steel and pig iron output decrease in H1

26 Aug | Steel News

Ukraine’s Metinvest sees 4% fall in pig iron output in H1

13 Aug | Steel News

Russia’s Mechel posts higher long and flat steel sales for Q1 amid new domestic contracts

07 Jun | Steel News

Metinvest’s pig iron and crude steel outputs decrease in Q1

21 May | Steel News

ArcelorMittal sees lower net profit and sales revenues in Q1

02 May | Steel News

Ukraine’s ArcelorMittal Kryvyi Rih posts lower pig iron output due to Russia’s attacks on energy infrastructure

21 Mar | Steel News

Ukraine’s ArcelorMittal Kryvyi Rih posts increased outputs for January

01 Mar | Steel News

Metinvest’s pig iron and crude steel output down in 2023

21 Feb | Steel News