In its financial results according to international financial reporting standards (IFRS) for 2014, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest's net income decreased by 93.9 percent compared to 2013 to $66 million, mostly due to non-cash items related to the US dollar-denominated part of the company's debt. In 2014, the company's revenues declined by 13.1 percent year on year to $6.367 billion.
Metalloinvest's adjusted EBITDA decreased by 14.4 percent year on year to $1.961 billion in 2014. Its adjusted EBITDA margin, which had been 31.3 percent in 2013, declined to 30.8 percent in 2014.