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

Tuesday, 20 February 2018 12:18:16 (GMT+3)   |   Istanbul
       

In its financial results according to International Financial Reporting Standards (IFRS) for the full year of 2017, Russian steelmaker NLMK Group's net profit increased by 55 percent year on year to $1.45 billion. The company's sales revenues amounted to $10.1 billion, up 32 percent year on year, driven by the growth of average steel product prices, increased volume and growth of the share of finished product sales. In the same year, NLMK Group's EBITDA went up by 37 percent to $2.65 billion, while its EBITDA margin increased by one percentage point to 26 percent, both on year-on-year basis.

In 2017, NLMK Group's sales volume rose by three percent year on year to 16.46 million mt, due to the growth in sales in home and export markets.

The company’s acting CFO Sergey Karataev stated that in 2017 NLMK Group continued to consistently improve its operating and financial performance, with sales hitting an all-time high of 16.5 million mt. According to Mr. Karataev, successful execution of the company’s Strategy 2017 program was the key driver behind improved financials, with net gains from strategy projects exceeding $1 billion and non-capital intensive operational efficiency projects accounting for more than half of Strategy 2017 gains.


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