Russia-based leading global iron ore and hot briquetted iron producer Metalloinvest has announced its financial results for the full year of 2021.
In 2021, Metalloinvest registered a net profit of $4.11 billion, compared to $1.33 billion in 2020, while the company’s sales revenues increased by 65.4 percent to $10.60 billion, due to favorable market conditions and the recovery of demand for iron ore and steel products in the global markets.
In the same year, its adjusted EBITDA amounted to $5.75 billion, rising from $2.47 billion in 2020, against the backdrop of revenue outpacing the growth of costs. Metalloinvest’s EBITDA margin in 2021 rose to 54.3 percent, from 38.5 percent in the previous year.
Meanwhile, the company’s crude steel production totaled 4.9 million mt in 2021, down by 1.3 percent year on year as a result of maintenance works conducted at OEMK’s electric arc furnace No. 4 in the third quarter of 2021. In the given year, the company’s iron ore production amounted to 40.76 million mt, up by 0.8 percent year on year, due to a reduction in repair work downtime and an increase in the average productivity of equipment.
