Russian pig iron and coking coal producer Industrial Metallurgical Holding (KOKS Group) has announced its financial results for 2016.
In the given year, IMH registered a net profit of RUB 9.21 billion ($164.35 million), compared to a net loss of RUB 3.36 million in the previous year. The company's sales revenue in the given period increased by 20 percent year on year to RUB 64.52 billion ($1.15 billion), mainly due to an increase in gross output and sales volume of its products.
On the other hand, in 2016 IMH’s operating profit was RUB 9.38 billion ($167.44 million), up 17 percent year on year, while its EBITDA increased by seven percent to RUB 11.77 billion ($210.16 million) compared to 2015.
Meanwhile, in the given period the company increased its coking coal production by 16.9 percent to 2.21 million mt, while its metallurgical coke production for the year increased by 3.6 percent to 2.82 million mt, both compared to 2015. IMH’s iron ore production rose by 1.2 percent year on year to 5.02 million mt and its pig iron production at its subsidiary Tulachermet totaled 2.21 million mt, up 7.3 percent from the previous year.