Metalloinvest’s sales revenues increase by 15.3 percent in 2018

Friday, 15 March 2019 14:13:51 (GMT+3)   |   Istanbul

Russia-based leading global iron ore and hot briquetted iron producer Metalloinvest has announced its financial results for the full year ended December 31, 2018.

In 2018, Metalloinvest registered a net income of $1.65 billion, increasing by 17.1 percent, while the company’s revenue increased by  15.3 percent to $7.19 billion, both year on year. In the same year, its adjusted EBITDA amounted to $2.93 billion, rising by 38.4 percent compared to 2017.

According to the company’s report, the increase in revenue last year was a result of the company’s focus on increasing its production of high value-added products, favourable market conditions and the implementation of its operational improvement programme.

Most Recent Related Articles

Local Chinese pig iron prices in China - week 4

Samancor Chrome plans to retrench staff amid tough business conditions

Ex-CIS billet prices under pressure from weak demand, negative sentiment in scrap

Short sea scrap price down sharply in fresh deals to Turkey