Ukrainian mining and steel producing group Metinvest has announced its financial results for the first quarter of the current year, registering an EBITDA of $341 million, down 61 percent year on year resulting from a decrease in the mining division's EBITDA , which was partly compensated by an increase in the metallurgical division.
In the given period, Metinvest's sales revenues decreased by 38 percent to $1.82 billion primarily due to a fall in sales of flat and long products, iron ore products, semi-finished steel products and coke and chemical products. The metallurgical division accounted for 78 percent of external sales (76 percent in Q1 2014) and the mining division for 22 percent (24 percent in Q1 2014).