Russian steelmaker NLMK Group has announced its financial results under the International Financial Reporting Standards (IFRS) for the second quarter and the first half of this year.
In the given quarter, the company’s net profit came to RUB 37.33 billion ($416.39 million), down by 37.1 percent, while its sales revenues rose by 5.2 percent to RUB 267.55 billion ($2.98 billion), both on year-on-year basis. Moreover, NLMK’s operating profit came to RUB 75.17 billion ($838.71 million), down from an operating profit of RUB 79.54 billion in the first quarter of last year.
In the first half, the company’s net profit declined by 11.0 percent year on year to RUB 81.65 billion ($910.79 million), while its sales revenues amounted to RUB 517.79 billion ($5.78 billion), rising by 16.6 percent year on year. Moreover, NLMK registered an operating profit of RUB 132.77 billion ($1.48 billion), compared to an operating profit of RUB 121.81 billion in the first half of 2023.
