In its financial results according to international financial reporting standards (IFRS) for 2011, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest increased its net income by 19.4 percent compared to 2010 to $1.432 billion. In 2011, the company's consolidated revenues rose by 38.7 percent year on year reaching $9.919 billion.
Metalloinvest's adjusted EBITDA increased by 49.7 percent year on year to $3.873 billion in 2011. Its adjusted EBITDA margin had been 36.2 percent in 2010, rising to 39 percent in 2011.