The Ukrainian iron ore and steel producer Metinvest has announced that, according to its unaudited interim consolidated results in accordance with International Financial Reporting Standards (IFRS), in the first nine months of 2010 it increased its net profit by 149.4 percent year on year to $873 million.
Accordingly, in January-September this year, Metinvest saw a 54.8 percent year-on-year increase in its consolidated revenue to $6.83 billion, an 80.4 percent year-on-year growth in its consolidated adjusted EBITDA to $1.938 billion, while its EBITDA margin amounted to 28.4 percent. Metinvest's total debt as of September 30, 2010 was standing at $2.52 billion, up from $1.943 billion as of December 31, 2009.
Specifically, during the first nine months of this year Metinvest produced 6.1 million mt of crude steel - up 21.6 percent year on year. Its steel segment revenue amounted to $3.819 billion - up 25.2 percent, with its total external steel sales totaling $3.776 billion - up 25.2 percent, both compared to the same period last year.
Metinvest's coke and coal segment, which in January-September this year produced 7.6 million mt of coking coal - up 5.8 percent, and 2.6 million mt of steam coal - up 16.1 percent, saw its revenue for the first nine months increase by 81.1 percent to $1.603 billion, with its total external coke and coal sales for this period rising by 80.1 percent to $861 million, all compared to January-September 2009.
In its iron ore segment, in the first nine months of 2010 Metinvest registered a 25.5 percent year-on-year increase in iron ore production to 27.1 million mt. Its January-September iron ore segment revenue amounted to $2.93 billion - up 134.2 year on year, with its total external iron ore sales amounting to $2.193 billion - up 138.9 percent year on year.