Metalloinvest's earnings & profit soared on year in 9M 2017

摘要

Russian miner and steelmaker Metalloinvest said its January-September revenue increased by half on year to $4.55 billion, because of the surge in global prices, rouble appreciation and a change in its product mix. Metalloinvest's pre-tax earnings (EBITDA) grew even more steeply, by around 81% on year, to $1.54 billion. Its EBITDA margin expanded to 33.9%, up from 28.6% in the same nine months last year. Earnings growth was mostly attributable to the two-fold increase in the company's mining segment EBITDA, following the commissioning in the middle of the year of a third hot briquetted iron (HBI) plant at its Belgorod-based Lebedinsky iron ore mining and beneficiation complex (LebGOK). HBI-3 has a capacity of 1.8 million mt/year and its high value added product output contributed to the above hike in earnings.