Ukraine’s Metinvest posts higher revenues in H1

Thursday, 02 September 2021 11:40:12 (GMT+3)   |   Istanbul

Ukrainian mining and steel producing group Metinvest has announced its financial results for the first half of the current year.

In the first half, the company’s sales revenue rose by 70.5 percent year on year to $8.47 billion. Meanwhile, Metinvest reported EBITDA of $3.79 billion for the first half, compared to $715 million in the same period of the previous year, while its EBITDA margin rose to 45 percent from 14 percent in the corresponding period last year. The company’s total debt decreased by 16.2 percent year on year to $2.46 billion in the given period.

The company spent $204 million on environmental protection measures in the first half this year.

In the given period, the company’s mining segment’s revenues rose by 91.5 percent year on year to $2.03 billion.

Metinvest stated that its financial results improved amid the global economic recovery and rising commodity prices. 

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