Metalloinvest posts 37.5 percent decline in net income for 2013

Monday, 24 March 2014 17:53:32 (GMT+3)   |  
       

In its financial results according to international financial reporting standards (IFRS) for 2013, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest's net income decreased by 37.5 percent compared to 2012 to $1.080 billion due to exceptional income from the sale of Metalloinvesttrans in 2012. In 2013, the company's consolidated revenues declined by 10.6 percent year on year to $7.324 billion.

Metalloinvest's adjusted EBITDA decreased by 12.3 percent year on year to $2.240 billion in 2013. Its adjusted EBITDA margin had been 31.2 percent in 2012, falling to 30.6 percent in 2013.


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