Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that in the fourth quarter of 2017 the sales revenues of its Turkey-based subsidiary MMK Metalurji decreased by 11.6 compared to the third quarter to $168 million, due to the seasonal slowdown of business activity.
In the fourth quarter, MMK Metalurji registered an EBITDA of $14 million, falling 12.5 percent from the previous quarter, while in the full year of 2017 its EBITDA increased by 16.3 percent to $50 million, a record-breaking result in the company’s history.
MMK Metalurji’s plans to maintain production volumes in the current year at levels no lower than those achieved in 2017, accordingly to achieve a stable financial performance year on year.