NLMK’s net profit up 32 percent in January-September

Monday, 09 November 2015 17:15:17 (GMT+3)   |   Istanbul
       

In its financial results according to according to International Financial Reporting Standards (IFRS) for the first nine months of the current year, Russian steelmaker NLMK Group's net profit increased by 32 percent year on year to $891 million. The company's sales revenues amounted to $6.37 billion, down 20.88 percent year on year. In the same period, NLMK’s EBITDA decreased by seven percent to $1.62 billion, while EBITDA margin increased by four percentage points to 26 percent, both year-on-year basis.
 
In the first nine months, NLMK's sales volume increased by seven percent to 12.1 million mt, compared to the same period of the previous year. 
 
NLMK stated that world steel demand is anticipated to decline by 1.7 percent at the end of 2015. Steel prices are to remain under pressure mainly due to the tide of exports from China and the drop in raw materials prices, the company added.

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