Russian pig iron and coking coal producer Industrial Metallurgical Holding (KOKS Group) has announced its financial results for 2017.
In the given year, IMH registered a net profit of RUB 7.59 billion ($123.73 million), compared to a net profit of RUB 9.21 million in the previous year. The company's sales revenue in the given period increased by 32 percent year on year to RUB 85.36 billion ($1.38 billion), driven by the increase in coal production and the price recovery for IMH’s main products.
In 2017, IMH’s operating profit was RUB 13.55 billion ($220.72 million), up 44 percent year on year, while its EBITDA increased by 45 percent to RUB 17.06 billion ($277.96 million) compared to 2016.
Meanwhile, in 2017 the company increased its coking coal production by 28 percent to 2.83 million mt, while its metallurgical coke production for the year decreased by five percent to 2.70 million mt, both compared to 2016. IMH’s iron ore production rose by one percent year on year to 5.10 million mt and pig iron production at its subsidiary Tulachermet totaled 2.27 million mt, up three percent from the previous year.