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 58.2 percent year-on-year fall in its net profit to $115 million. In the given period, the company's consolidated revenues decreased by 7.2 percent year on year to $1.805 billion.
In the first quarter this year, Metalloinvest's EBITDA decreased by 0.9 percent year on year to $574 million, while its EBITDA margin, which was at 29.8 percent in the first quarter last year, increased to 31.8 percent.