The Russian steelmaker Magnitogorsk Iron and Steel Works (
MMK) has issued its US GAAP (Generally Accepted Accounting Principles) results for 2006.
Accordingly, during the period in question,
MMK registered a 19.4 percent increase in its sales revenue to $6.424 billion, a 33.4 percent increase in its operational profit to $1.765 billion, and a 50.6 percent increase in its net profit to $1.426 billion. Meanwhile, the company's primary costs increased only by 10.5 percent year on year in 2006.
MMK's year on year EBITDA rose by 32.7 percent to $2.005 billion in 2006.