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NLMK Group’s net profit up 63.3 percent in H1

Tuesday, 31 July 2018 14:47:23 (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 increased by 63.3 percent year on year to $1.08 billion, supported by growth of profit from operations. The company's sales revenues amounted to $5.9 billion, up 26 percent year on year, driven by the growth of prices.

In the first half this year, NLMK Group's EBITDA was $1.72 billion, rising by 41 percent year on year, while its EBITDA margin increased to 29 percent compared to 26 percent in the same period of 2017.

In the third quarter of this year, NLMK Group expects its capacity utilization to remain high and its crude steel production to increase. In addition, it also expects that seasonally stronger performance of the Russian divisions will support its third quarter financial results.


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