In its financial results according to international financial reporting standards (IFRS) for the first quarter of the current year, Russia-based leading global iron ore and hot briquetted iron (HBI) producer Metalloinvest posted a 27.2 percent fall in its net profit compared to the same period last year to $275 million. In the January-March period of this year, the company's consolidated revenues decreased by 13.1 percent compared to the first quarter of 2012 to $1.945 billion.
In the first quarter this year, Metalloinvest's EBITDA decreased by 26.7 percent year on year to $579 million, while its EBITDA margin, which had been 35.3 percent in the first quarter last year, declined to 29.8 percent.