The Ukrainian iron ore and steel producer Metinvest has announced that, according to its unaudited interim results, in H1 2010 it increased its net profit by 144 percent year on year to $524 million.
Accordingly, in H1 this year, Metinvest saw a 49 percent year-on-year increase in its consolidated revenue to $4.187 billion, a 119 percent year-on-year growth in its consolidated adjusted EBITDA to $1.193 billion, while its EBITDA margin amounted to 29 percent.
Specifically, during the first six months of this year, Metinvest produced 4.1 million mt of crude steel - up 36 percent year on year. Its steel segment revenue amounted to about $2.43 billion - up 19 percent, with its total external steel sales totaling $2.376 billion - up 18 percent, both compared to the same period last year.
Metinvest's coke and coal segment, which in H1 this year produced 4.8 million mt of coking coal - up one percent, and two million mt of steam coal - up 17 percent, saw its H1 revenue increase by 121 percent to $1.09 billion, with its total external coke and coal sales for this period growing by 135 percent to $587 million, all compared to H1 2009.
In its iron ore segment, in H1 2010, Metinvest registered a 41 percent year-on-year increase in iron ore production to 18.1 million mt. Its H1 iron ore segment revenue amounted to $1.732 billion - up 139 year on year, with its total H1 external iron ore sales amounting to $1.224 billion - up 123 percent year on year.