Anzeige
Mehr »
Login
Donnerstag, 28.03.2024 Börsentäglich über 12.000 News von 687 internationalen Medien
Spezial am Donnerstag: Rallye II. - Neuer Anstoß, News und was die Börsencommunity jetzt nicht verpassen will…
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche
Dow Jones News
181 Leser
Artikel bewerten:
(0)

PJSC Magnitogorsk Iron and Steel Works: MMK Group Trading Update for Q2 and H1 201

DJ PJSC Magnitogorsk Iron and Steel Works: MMK Group Trading Update for Q2 and H1 2019

PJSC Magnitogorsk Iron and Steel Works (MMK) 
PJSC Magnitogorsk Iron and Steel Works: MMK Group Trading Update for Q2 and 
H1 2019 
 
16-Jul-2019 / 09:59 CET/CEST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
MMK Group Trading Update for Q2 and H1 2019 
 
??? Group: Consolidated results 
 
(thousand tonnes) 
 
                   Q2 2019 Q1 2019      % H1 2019 H1 2018      % 
Finished products    2,856   2,782   2.7%   5,638   5,675  -0.7% 
sales, of which: 
Long products          366     333   9.9%     700     648   8.0% 
Flat hot-rolled      1,064   1,111  -4.2%   2,175   2,302  -5.5% 
products 
Thick plate (mill      281     293  -4.1%     574     387  48.3% 
5000) 
Flat cold-rolled       241     257  -6.2%     498     615 -19.0% 
products 
Downstream             904     788  14.7%   1,692   1,723  -1.8% 
products, of 
which: 
Tin plate               43      32  34.4%      75      73   2.7% 
Galvanised steel       484     414  16.9%     898     880   2.0% 
Polymer-coated         176     156  12.8%     332     355  -6.5% 
steel 
Band                    29      30  -3.3%      59      73 -19.2% 
Formed section          38      41  -7.3%      79      75   5.3% 
Pipes                   11      11   -         22      30 -26.6% 
Metalware              106      93  14.0%     199     203  -2.0% 
Other metal             16      11  45.4%      27      34 -20.6% 
products 
HVA products         1,426   1,338   6.6%   2,764   2,726   1.4% 
Share of HVA         49.9%   48.1%          49.0%   48.0% 
products 
Coal concentrate       487     777 -37.3%   1,263   1,412 -10.5% 
production 
Iron ore               729     716   1.8%   1,202   1,320  -8.9% 
production 
 
Q2 2019 highlights vs. Q1 2019 
 
? MMK Group's total sales of finished products in Q2 2019 totalled 2,856 
thousand tonnes, up 2.7% quarter-on-quarter (q-o-q). 
 
? MMK Group's sales of HVA products in Q2 2019 totalled 1,426 thousand 
tonnes, up 6.6% q-o-q. The share of HVA products in total sales increased 
to 49.9%. 
 
? MMK Coal's coal concentrate production in Q2 2019 totalled 487 thousand 
tonnes, down 37.3% q-o-q. 
 
H1 2019 highlights vs. H1 2018 
 
? MMK Group's total sales of finished products in H1 2019 totalled 5,638 
thousand tonnes, down 0.7% year-on-year (y-o-y). 
 
? MMK Group's sales of HVA products in H1 2019 totalled 2,764 thousand 
tonnes, up 1.4% y-o-y. The share of HVA products in total sales increased 
to 49.0%. 
 
? MMK Coal's coal concentrate production in H1 2019 totalled 1,263 
thousand tonnes, down 10.5% y-o-y. 
 
MMK Group highlights by key segments 
 
PSJC MMK 
 
(thousand tonnes) 
 
                   Q2 2019 Q1 2019      % H1 2019 H1 2018      % 
Pig iron             2,452   2,396   2.3%   4,849   4,680   3.6% 
Crude steel          3,091   3,107  -0.5%   6,198   6,176   0.4% 
Finished products,   2,730   2,731  -0.1%   5,461   5,592  -2.3% 
of which: 
Long products          452     457  -1.1%     908     892   1.9% 
Flat hot-rolled      1,166   1,180  -1.1%   2,346   2,498  -6.1% 
products 
HVA products, of     1,112   1,095   1.5%   2,207   2,203   0.2% 
which: 
Thick plate (mill      287     267   7.5%     554     401  38.3% 
5000) 
Flat cold-rolled       294     319  -7.9%     614     724 -15.3% 
products 
Downstream             530     508   4.3%   1,039   1,078  -3.6% 
products, of 
which: 
Tin plate               42      34  23.4%      76      73   4.4% 
Galvanised steel       338     311   8.7%     649     642   1.1% 
Polymer-coated          70      81 -13.6%     151     178 -15.5% 
steel 
Band                    28      28   0.5%      56      73 -23.7% 
Formed section          42      40   5.0%      82      79   3.4% 
Pipes                   11      14 -21.4%      25      32 -21.7% 
Shipments by 
market: 
Russia + CIS         2,444   2,442   0.1%   4,886   4,503   8.5% 
Export                 286     290  -1.5%     575   1,089 -47.2% 
 
(USD / tonne) 
 
                     Q2 2019 Q1 2019    % H1 2019 H1 2018      % 
Average price per        625     578 8.1%     602     651  -7.6% 
tonne: 
Long products            510     480 6.3%     494     567 -12.8% 
Flat hot-rolled          551     506 8.8%     528     584  -9.6% 
products 
HVA products, of         750     698 7.5%     724     760  -4.8% 
which: 
Thick plate (mill        747     712 5.0%     730     830 -12.1% 
5000) 
Flat cold-rolled         629     579 8.7%     603     634  -4.8% 
products 
Downstream products,     818     765 7.1%     792     819  -3.3% 
of which: 
Tin plate                817     777 5.2%     798     829  -3.7% 
Galvanised steel         802     742 8.0%     772     792  -2.5% 
Polymer-coated steel     981     916 7.2%     946     986  -4.0% 
Band                     689     653 5.5%     671     680  -1.3% 
Formed section           827     779 6.2%     803     838  -4.2% 
Pipes                    594     542 9.6%     565     664 -14.9% 
 
? Pig iron output in Q2 2019 increased by 2.3% q-o-q. This was due to the 
completion of the scheduled overhaul of the blast furnace No.7 in mid May 
and productivity growth. 
 
? At the same time, the volume of steel output in Q2 2019 remained flat 
q-o-q. The increase in pig iron volumes allowed the company to decrease 
the share of metal scrap in burden. 
 
? The volume of shipments in Q2 2019 was flat q-o-q and amounted to 2,730 
thousand tonnes. Sustainable shipments were a result of the continued high 
demand in the domestic market amid the scheduled repairs of rolling 
equipment. 
 
? In Q2 2019, the domestic market saw continued high demand for steel 
products, which was associated with the beginning of the construction 
season and high volume of orders from manufacturers of large diameter 
pipes. These factors allowed the Company to maintain shipments to the 
domestic market flat q-o-q (2,444 thousand tonnes), as a result, the share 
of shipments to the domestic market amounted to about 90%. 
 
? The volume of shipments of long products in Q2 2019 remained flat q-o-q 
and amounted to 452 thousand tonnes amid the recovery of business activity 
at the beginning of the construction season. 
 
? The volume of shipments of hot-rolled products for Q2 2019 remained low, 
which was due to the continued reconstruction of Mill 2500 under the 
current investment programme. 
 
? The volume of shipments of HVA products for Q2 2019 increased by 1.5% 
q-o-q and amounted to 1,112 thousand tonnes. This growth is mainly due to 
the increase in shipments of thick plate and the high capacity utilisation 
rates for deep processing production. 
 
? The decrease in the volume of shipments of cold-rolled products for Q2 
2019 by 7.9% q-o-q was mainly due to an increase of galvanised steel 
production at MMK's site and an increase in sales of polymer-coated steel 
produced at Lysvensky Metallurgical Plant. 
 
? In Q2 2019, the volume of shipments of Mill 5000 products increased by 
7.5% q-o-q and reached 287 thousand tonnes. This growth was associated 
with the continued supply of steel for the production of large diameter 
pipes as part of the implementation of major pipeline projects by Gazprom. 
 
? In H1 2019, the volume of shipments of Mill 5000 thick plate increased 
by 38.3% y-o-y and amounted to 554 thousand tonnes. 
 
? Seasonal increase in demand for construction products allowed the 
Company to increase shipments of galvanized steel in Q2 2019 by 8.7% q-o-q 
to 338 thousand tonnes. 
 
? The decrease in shipments of polymer-coated steel compared to the 
previous quarter was due to the higher margin of galvanised steel sales in 
the current market environment. 
 
? The average selling price, expressed in US dollars, for Q2 2019 
increased by 8.1% q-o-q and amounted to USD 625 per tonne. This growth was 
due to both the recovery of global and Russian steel prices following a 
significant correction at the end of last year and an increase of HVA 
products share in the sales mix. 
 
MMK - Lysvensky Metallurgical Plant 
 
(thousand tonnes) 
 
                    Q2 2019 Q1 2019      % H1 2019 H1 2018     % 
Finished products,       74      60  22.8%     135     115 17.0% 
of which: 
Electro-galvanised        2       1  98.6%       3       3   - 
steel (automotive 
sheet) 
Galvanised steel         70      56  24.7%     125     107 17.1% 
with polymer 
coating 
Galvanised steel          3       4 -28.4%       6       5 37.7% 
with decorative 
coating (SteelArt) 
 
? Finished products output increased by 23% q-o-q in Q2 2019 and was due 
to the seasonal growth in demand for construction products. 
 
? A 17% growth in H1 2019, compared to H1 2018 was due to the introduction 
of a programme to promote construction products, including SteelArt, in H2 
2018. 
 
Steel segment (Turkey) 
 
(thousand tonnes) 
 
                   Q2 2019 Q1 2019      % H1 2019 H1 2018      % 
??? Metalurji          197     176  11.8%     373     428 -13.0% 
finished products, 
of which: 
Flat hot-rolled          8       7   6.9%      15      36 -58.2% 
products 
HVA products, of       189     169  12.1%     358     392  -8.8% 
which: 
Galvanised steel       160     129  23.9%     289     297  -2.7% 
Polymer-coated          29      39 -26.6%      68      95 -27.9% 
steel 
??? Metalurji           58     136 -63.6%     217     339 -36.2% 
finished products 
from ??? steel 
 
? Sales of finished products for Q2 2019 amounted to 197 thousand tonnes, 
up 11.8% q-o-q, due to the higher share of exports sales. 
 
? The volume of sales of commercial products for H1 2019 decreased by 
13.0% y-o-y, mainly due to the continued challenging economic situation in 
Turkey. The sales volumes were affected by lower sales of flat hot-rolled 
steel amid high volatility in prices for these products and low 
marginality. 
 
? External headwinds, a continued challenging economic situation and 
political uncertainties continue to negatively affect domestic demand for 
construction metal products. 
 
MMK Coal 
 
(thousand tonnes) 
 
                      Q2 2019     Q1      %   H1       H1      % 
                                2019         2019    2018 
Coking coal mining        978  1,464 -33.2%  2,442  2,187  11.6% 
Coking coal               916  1,422 -35.6%  2,337  2,752 -15.1% 
processing 
Mined                     786  1,403 -44.0%  2,188  2,268  -3.5% 
Purchased                 116     19      -    135    466 -71.1% 
Toll                       14      0      -     14     17 -19.5% 
Coking coal               487    777 -37.3%  1,263  1,412 -10.5% 
concentrate 
 
? The volume of coking coal production in Q2 2019 decreased by 33.2% q-o-q 
and amounted to 978 thousand tonnes. This decrease was due to the 
maintenance works during the quarter. 
 
? The decrease in coal concentrate production by 37.3% q-o-q in Q2 2019, 
as well as the decrease y-o-y in H1 2019, were due to ramping up of the 
beneficiation plant to its design capacity following the reconstruction. 
It is expected, that the plant will reach its full design capacity in Q4 
2019. 
 
? The volume of coking coal production in H1 2019 increased by 11.6% y-o-y 
to 2,442 thousand tonnes due to the changes in the maintenance works 
schedule. 
 
            Outlook 
 
    The Company's management expects that in Q3 2019 demand for steel in the 
 domestic market will remain strong and with the completion of another stage 
     of reconstruction at hot-rolling Mill 2500, this should have a positive 
            impact on the sales volumes of MMK Group. 
 
        The maximum capacity utilisation of high-margin production units and 
  continued high price premium in the domestic market should help offset the 
     higher prices for iron ore in H1 2019, which should support MMK Group's 
            financial results in Q3 2019. 
 
     MMK is one of the world's largest steel producers and a leading Russian 
          metals company. The company's operations in Russia include a large 
     steel-producing unit encompassing the entire production chain, from the 
 preparation of iron ore to downstream processing of rolled steel. MMK turns 
            out a broad range of steel products with a predominant share of 
 high-value-added products. In 2018, the company produced 12.7 mln tonnes of 
 crude steel and 11.7 mln tonnes of commercial steel products. MMK Group had 
            sales in 2018 of USD 8,214 mln and EBITDA of USD 2,418 mln. 
 
Contacts 
 
Investor Relations Department: 
 
Andrey Serov 
 
+7 3519 25-30-29 
 
ir@mmk.ru 
 
Communications Department: 
 
Dmitry Kuchumov Dmitry Bulin 
 
+7 499 238-26-13 +7 499 238-26-13 
 
kuchumov.do@mmk.ru bulin.dn@mmk.ru 
 
ISIN:          US5591892048 
Category Code: TST 
TIDM:          MMK 
LEI Code:      253400XSJ4C01YMCXG44 
Sequence No.:  13559 
EQS News ID:   841855 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

July 16, 2019 04:00 ET (08:00 GMT)

Großer Dividenden-Report 2024 von Dr. Dennis Riedl
Der kostenlose Dividenden-Report zeigt ganz genau, wo Sie in diesem Jahr zuschlagen können. Das sind die Favoriten von Börsenprofi Dr. Dennis Riedl
Jetzt hier klicken
© 2019 Dow Jones News
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.