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NLMK Group’s net profit up 54 percent in 2018

Thursday, 07 February 2019 16:40:36 (GMT+3)   |   Istanbul
       

In its financial results according to International Financial Reporting Standards (IFRS) for 2018, Russian steelmaker NLMK Group's net profit increased by 54 percent year on year to $2.24 billion. The company's sales revenues amounted to $12.04 billion, up 20 percent year on year, driven by the growth of average sales prices and higher sales volumes.

In 2018, NLMK Group's EBITDA was $3.6 billion, rising by 35 percent year on year, while its EBITDA margin increased to 30 percent compared to 26 percent in 2017.

According to NLMK, steel output will reduce to the level of the first quarter of 2019, impacted by the seasonal fall in demand for long steel and scheduled repairs at the Lipetsk site. Sales are expected to grow on an annual basis, with an increase in the share of finished products in the sales portfolio.


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