METALLOINVEST ANNOUNCES INTERIM MANAGEMENT STATEMENT FOR Q3 AND 9M 2018
Moscow, Russia - 27 November 2018 - Metalloinvest ("the Company"), a leading global iron ore and HBI producer, and one of the regional producers of high-quality steel, today publishes its IFRS interim management statement for the third quarter and nine months ended 30 September 2018.
FINANCIAL HIGHLIGHTS FOR THE FIRST NINE MONTHS OF 2018
- Revenue USD 5,342 mn (+17.3% y-o-y)
- EBITDA USD 2,183 mn (+41.4%)
- EBITDA margin 40.9% vs. 33.9% in 9M 2017
- Net Income USD 1,245 mn (+14.3%)
- Net Debt USD 3,646 mn (-10.1% compared to 31 December 2017)
- Net Debt / EBITDA LTM 1.3x vs 1.9x at 31 December 2017
- Capital Expenditure USD 320 mn (-4.6%)
KEY CORPORATE HIGHLIGHTS IN Q3 2018
Operating activities and capital expenditures
- Launch of the Roller Treatment Furnace #1 and Heat Treatment Machine #1 Сomplex at Ural Steel
- Start of implementation of fine screening technology at MGOK
- Launch of new warehouse for the storage and shipment of finished products at OEMK
- Launch of integrated financial and business management system, using the SAP S/4HANA business suite at LGOK and MGOK
- Coordination meetings with United Metallurgical Company and ChelPipe
Financing
- Improvement of credit conditions under syndicated loan PXF-2017 for the amount of USD 800 mn (Tranche A)
- Partial refinancing of loan portfolio following the new 6-year loan provided by Gazprombank in the amount of RUB 18.8 bn
- Revision of the Company's outlook on its corporate credit rating by RAEX (Expert RA) to Positive from Stable, confirmation of its 'ruAA-' rating
- Revision of the Company's outlook on its long-term issuer default rating by Fitch Ratings to Positive from Stable, confirmation of its 'BB' rating
Full press release is available at http://www.metalloinvest.com/en/investors/financial-results/
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For further information, please contact:
Artem Lavrischev
Director of Investor Relations and Corporate Ratings
E: ir@metalloinvest.com
T: +7 (495) 981-55-55
Metalloinvest is a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality
steel. The Company has the world's second-largest measured iron ore reserve base and is one of the lowest-cost iron ore producers.
Metalloinvest is wholly owned by Holding Company USM LLC. Alisher Usmanov is the major beneficiary of USM Holdings (49%), with other major beneficiaries being the companies of Vladimir Skoch (30%) and Farhad Moshiri (8%).
