Ukraine’s Metinvest sees 4.8 percent drop in revenues in October

Monday, 04 January 2021 16:26:40 (GMT+3)   |   Istanbul

Ukrainian mining and steel producing group Metinvest has announced its financial results for October last year.

Accordingly, in October Metinvest’s consolidated revenues declined by 4.8 percent month on month to $868 million. In the given month, revenues from its metallurgical division fell by 5.1 percent month on month to $683 million, while revenues from its mining division totaled $185 million, down 3.6 percent month on month.

Meanwhile, the company's EBITDA in October amounted to $240 million, falling by 1.64 percent compared to September, SteelOrbis has learned.

In the meantime, in the given month Metinvest’s debt remained almost unchanged at $2.93 billion.

In October, Metinvest sold 426,000 mt of semi-finished steel products with a value of $172 million and 626,000 mt of flats with a value of $344 million. Its revenues from the sale of 1.49 million mt of iron ore amounted to $177 million.

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