Ukrainian mining and steel producing group Metinvest has announced its results for the first nine months of the current year.
In the given period, Metinvest's revenues decreased by 14 percent year on year to $8.461 billion. This was primarily due to a fall in sales of steel ($805 million), iron ore ($419 million), coal ($90 million) and coke products ($101 million), partly offset by an increase in sales of pig iron ($145 million). Metinvest's metallurgical division accounted for 78 percent of external sales, compared to 76 percent in the January-September period of 2013, while its mining division accounted for 22 percent, compared to 24 percent in January-September of the previous year.
During the first nine months this year, the company's adjusted EBITDA amounted to $2.046 billion, up 13 percent year on year, with an EBITDA margin of 24 percent.