The Ukrainian mining and steel producing group Metinvest has announced its results for the 12 months ended 31 December 2012.
In the given period, Metinvest's net profit amounted to $454 million, representing a decrease of 76 percent compared to last year.
In 2012, Metinvest’s consolidated revenues totalled $12.565 million, down 11 percent compared with $14.189 million in 2011. The drop was due to declines in revenues of 12 percent for the metallurgical division and of 10 percent for the mining division, year on year. The metallurgical division accounted for 74 percent of external sales (similar to its share in 2011) and the mining division accounted for 26 percent.
The company's adjusted EBITDA in 2012 amounted to $1.985 million, down 44 percent year on year, with an EBITDA margin of 16 percent.