08
Jun
16:41
Metinvest turns profitable, increases Europe iron ore sales
Metinvest saw revenue drop -9% on-year in 2016 to $6.22 billion, but the Ukrainian steelmaker turned to a net profit of $118 million versus a $1 billion loss a year earlier. Adjusted Ebitda more than doubled to $1.15 billion.
The drop in revenue was mainly due to lower sales prices and reduced iron ore shipments, while Ebitda improved amid greater finished steel product output and cost reductions. “In Ukraine, there were the first indications of econo…
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Anonymous
Very good overview of the weekly steel market.
Anonymous