Ukrainian mining and steel producing group Metinvest has announced its consolidated financial results for the first half of this year.
In the given period, the company reported a net loss of $58 million, compared to a net profit of $179 million in the same period of the previous year, mainly due to lower revenues, the loss from operations held for sale, and weaker net results from associates and joint ventures, while its sales revenues amounted to $3.56 billion, declining by 13.0 percent year on year, mainly due to the suspension of production operations at Pokrovske coal mine and Inhulets iron ore processing plant. In addition, Metinvest’s EBITDA in the first six months came to $339 million, dropping by 49.3 percent from $669 million recorded in the previous year, while it registered an operating profit of $186 million, compared to $379 million recorded in the first half of 2024.
In the first half, the company’s total crude steel output amounted to 908,000 mt, dropping by 13.0 percent year on year, while its pig iron output moved down by 11.0 percent year on year to 789,000 mt, as SteelOrbis reported previously.
