As per its financial results according to international financial reporting standards (IFRS) for the third quarter of the current year, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest saw its net profit decline by 86.4 percent compared to the second quarter of this year to $59 million.
In the July-September quarter this year, the company's revenues decreased by 9.1 percent compared to the second quarter to $1.571 billion.
Metalloinvest's EBITDA decreased by 19.1 percent quarter on quarter to $415 million in the third quarter this year, while its EBITDA margin, which had been 29.7 percent in the second quarter this year, declined to 26.4 percent in the third quarter.
In the third quarter this year, the company's capital expenditure amounted to $176 million, a reduction of 4.3 percent quarter on quarter.
The results for the period were as expected lower than in the second quarter due to the large amount of maintenance works planned for the third quarter.