ussian mining and steel group Mechel has announced its consolidated financial results for the first nine months of the current year. In the given period, Mechel saw a net profit of RUB 11.11 billion ($190.66 million) compared to a net profit of RUB 5.54 billion in the same period of 2016. In the January-September period, Mechel's sales revenues increased by 13 percent year on year to RUB 222.79 billion ($3.82 billion). In the given period, the company's EBITDA increased 42 percent year on year to RUB 59.14 billion ($1.01 billion), while its EBITDA margin was 27 percent compared to 21 percent in the corresponding period of last year.
In the January-September period this year, Mechel’s crude steel output increased by three percent to 3.21 million mt, while its pig iron output rose by one percent to 3.04 million mt, both year on year. Mechel's run-of-mine coal production in the first nine months of the year decreased by eight percent compared to the same period of 2016 to 15.69 million mt.
According to Mechel’s statement, its financial results for the January-September period this year were better than the same period of the previous year. The improvement was due to a favorable market situation as well as efforts made by the company to maintain its production volumes, optimize its product range, attract new customers and expand into new markets, increasing internal efficiency and cost control.