NLMK sees strong rise in net profit in 2014

Friday, 27 March 2015 13:36:23 (GMT+3)   |  
       

In its financial results according to US GAAP (Generally Accepted Accounting Principles) for 2014, Russian steelmaker NLMK Group's net income increased by 4.5 times compared to the previous year to $845 million. In the fourth quarter of 2014, the company registered a net profit of $232 million, down 17 percent  quarter on quarter due to non-cash losses from impairment of financial investments.

In 2014, NLMK's sales revenues decreased by five percent year on year to $10.396 billion. In the given year, EBITDA was up by 58 percent year on year to $2.383 billion, while the EBITDA margin rose to 23 percent, from 14 percent in 2013.


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