You are here: Home > Steel News > Latest Steel News > NLMK...

NLMK Group posts lower net profit in H1

Monday, 29 July 2019 15:03:31 (GMT+3)   |   Istanbul
       

In its financial results according to International Financial Reporting Standards (IFRS) for the first half of the current year, Russian steelmaker NLMK Group's net profit decreased by 27 percent year on year to $796 million. The company's sales revenues amounted to $5.67 billion, down four percent year on year, driven by an eight percent decrease in average sales prices, which was partially offset by the four percent growth of sales volumes.

In the first half of this year, NLMK Group's EBITDA was $1.43 billion, falling by 17 percent year on year, while its EBITDA margin decreased to 25 percent compared to 29 percent in the corresponding period of the previous year.

In the third quarter, NLMK, expects steel output to reduce by 2-3 percent quarter-on-quarter due to the overhauls at NLMK Lipetsk blast furnace and basic oxygen furnace operations. A quarterly reduction is anticipated in sales volumes, coupled with an increase in the share of finished and high value added products in the company’s sales mix.


Similar articles

NLMK Group’s net profit and sales revenue rise in 2021

03 Feb | Steel News

NLMK Group's net profit down significantly in Q2

23 Jul | Steel News

NLMK Group expects its export share to increase in May

04 May | Steel News

NLMK Group’s net profit down 40.2 percent in 2019

12 Feb | Steel News

NLMK Group's net profit decreases in January-September

24 Oct | Steel News

NLMK Group’s net profit up 54 percent in 2018

07 Feb | Steel News

NLMK Group’s net profit up 63.3 percent in H1

31 Jul | Steel News

NLMK’s sales revenues up 30 percent in Q1

24 Apr | Steel News

NLMK’s sales revenues up 32 percent in 2017 amid higher steel prices

20 Feb | Steel News

NLMK Group’s sales revenues up 36 percent in H1 amid higher prices

28 Jul | Steel News