DJ METALLOINVEST ANNOUNCES INTERIM FINANCIAL RESULTS FOR 9M 2020
Metalloinvest Finance Designated Activity Company (IRSH)
METALLOINVEST ANNOUNCES INTERIM FINANCIAL RESULTS FOR 9M 2020
23-Nov-2020 / 16:01 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
METALLOINVEST ANNOUNCES IFRS FINANCIAL RESULTS FOR 9M 2020
Moscow, Russia - 23 November 2020 - Metalloinvest ('the Company'), a leading
global iron ore and HBI producer, and one of the regional producers of
high-quality steel, today announces its IFRS financial results (unaudited)
for the third quarter and nine months ended 30 September 2020.
Management comments
Alexey Voronov, Deputy CEO - Chief Financial Officer of Management Company
Metalloinvest, commented:
"In the nine months of 2020, the Company's results were expectedly under
pressure due to the deterioration of economic activity in global markets,
which primarily affects the structure of markets and prices, driven by
increased transportation costs. At the same time the Company was able to
decrease costs by 17%, which allowed to maintain a solid EBITDA margin of
35.7%. The sales markets grew in Q3, EBITDA increased 9% compared to Q2
2020. We expect positive dynamics to continue in 2020. Company maintained a
comfortable level of leverage and a solid liquidity reserve."
FINANCIAL HIGHLIGHTS
? Revenue USD 4,572 mn (-14.2% y-o-y)
? EBITDA USD 1,632 mn (-22.8%)
? EBITDA margin 35.7% vs. 39.7% in 9M 2019
? Net Income USD 752 mn (-49.3%)
? Net Debt USD 3,420 mn (-8.9% compared to 31 December 2019)
? Net Debt / EBITDA LTM 1.68x vs. 1.49x as at 31 December 2019
? Capital Expenditure USD 326 mn (-7.3%)
PRODUCTION HIGHLIGHTS
? Iron ore 30.4 mn tonnes (+1.0%)
? Pellets 20.8 mn tonnes (-2.2%)
? HBI/DRI 5.8 mn tonnes (-2.4%)
? Hot metal 1.8 mn tonnes (-13.0%)
? Crude steel 3.7 mn tonnes (+3.1%)
Full press release is available at:
http://www.metalloinvest.com/en/investors/financial-results/ [1]
# # # #
If you have any questions, please contact us:
Artem Lavrischev
Investor Relations
E: ir@metalloinvest.com
T: +7 (495) 981-55-55, ext. 7243
Anton Troshin
Public Relations
E: pr@metalloinvest.com
Tel.: +7 (495) 981-55-55, ext. 7629
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 Holding
Company USM LLC (49%).
ISIN: XS0918297382
Category Code: MSCM
TIDM: IRSH
Sequence No.: 88367
EQS News ID: 1149967
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 23, 2020 08:01 ET (13:01 GMT)
