Ukrainian mining and steel producing group Metinvest has announced its financial results for the first nine months of the current year.
In the given period, Metinvest’s consolidated revenues decreased by 36 percent year on year to $5.39 billion. This was primarily due to a fall in sales of flat steel, long steel, iron ore, semi-finished steel, tubular and coke and chemical products. In the same period, the metallurgical division accounted for 79 percent of external sales, while the mining division accounted for 21 percent.
Metinvest’s consolidated EBITDA declined by 63 percent year on year to $813 million in the January-September period of this year. The decline in consolidated EBITDA was primarily attributable to a decrease in sales and a collapse in selling prices.