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.