Ukrainian mining and steel producing group Metinvest has announced its financial results for April.
Accordingly, in April Metinvest’s consolidated revenues declined by 13.2 percent month on month to $742 million, mostly caused by a drop in prices and lower resale volumes, in particular. In the given month, revenues from its metallurgical division fell by nearly 14 percent month on month to $574 million, while revenues from its mining division totaled $168 million, down 10.6 percent month on month.
Meanwhile, the company's EBITDA in April amounted to $126 million, falling by 26.3 percent compared to March, SteelOrbis has learned.
In the meantime, in the given month Metinvest’s debt decreased by $34 million month on month to 3.073 billion.
In April, Metinvest sold 377,000 mt of semi-finished steel products with a value of $143 million and 560,000 mt of flats with a value of $298 million, respectively. The revenues from the sale of 1.645 billion mt of iron ore amounted to $153 million.