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 increased by 36.2 percent year on year to $6.22 billion, driven primarily by higher steel and iron ore selling prices, which followed global benchmarks. In addition, stronger demand spurred greater sales of flat products, slabs, pig iron and coke. In the same period, the metallurgical division accounted for 82 percent of external sales, up one percentage point, while the mining division accounted for 18 percent, down one percentage point, both on year-on-year basis.
Metinvest’s consolidated EBITDA increased by 39 percent year on year to $1.37 billion in the January-September period of this year, driven by an increase in the mining segment’s contribution of $653 million, while its adjusted EBITDA margin in the given period this year was 22 percent remaining stable compared to the same period of the previous year.