Ukrainian mining and steel producing group
Metinvest has announced that in the first quarter of the current year its consolidated revenues decreased by eight percent year on year to $2.92 billion, primarily due to a fall in sales of iron ore, coking coal concentrate and flat and long products, which was partly compensated by an increase in sales of pellets, pig iron and billets.
Metinvest said that the metallurgical division accounted for 76 percent of external sales in the first quarter, while the mining division accounted for 24 percent. The share of international sales stood at 75 percent in the given quarter, up one percentage point year on year.
During the first quarter,
Metinvest’s capital expenditure grew by 29 percent year on year to $124 million. The mining division accounted for 52 percent of capital expenditure and the metallurgical division for 33 percent.