PJSC Magnitogorsk Iron and Steel Works: MMK Metalurji resumes operation of its hot rolling complex in Turkey

DJ PJSC Magnitogorsk Iron and Steel Works: MMK Metalurji resumes operation of its hot rolling complex in Turkey

PJSC Magnitogorsk Iron and Steel Works (MMK) 
PJSC Magnitogorsk Iron and Steel Works: MMK Metalurji resumes operation of its hot rolling complex in Turkey 
12-Jul-2021 / 11:57 CET/CEST 
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 
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            PJSC Magnitogorsk Iron & Steel Works ("MMK", or "the Group") (MICEX-RTS: MAGN; LSE: MMK), one of 
            the world's largest steel producers, announces that MMK Metalurji, an asset of MMK in Turkey, 
            has started hot tests at its electric arc furnace facility with a casting and rolling module. 
            Annual production of hot-rolled coils at MMK's Turkish production site amounts to about two 
            million tonnes. 
            MMK has begun the first phase of hot testing of technological equipment at its electric arc 
            furnace facility in Turkey, which was halted in 2012 due to unfavourable economic conditions in 
            the Turkish market. Upon completion of tests, the complex, intended for the production of 
MMK Metalurji resumes hot-rolled coils, will resume its work in full. 
operation of its hot 
rolling complex in   "The decision to suspend hot-rolled production at MMK Metalurji's site in Iskenderun was based 
Turkey         on economic efficiency considerations. At that time, the situation in the Turkish market was 
            characterised by high prices for raw materials and energy resources and low prices for steel 
            products. The current situation allows us to resume operations at the electric arc furnace 
            facility, which is a very important component of our Turkish asset," said Viktor Rashnikov, 
12 july 2021      Chairman of the MMK Board of Directors. 
Magnitogorsk, Russia  "We invested about USD40 million to restart this production facility. After restarting the hot 
            section and reaching its full capacity, we plan to produce about two million tonnes of 
            hot-rolled coils per year, which will allow our Turkish asset to gain a significant increase in 
            EBITDA," commented Pavel Shilyaev, CEO of MMK. 
 
            The phased launch of the electric arc furnace facility with a casting and rolling module at MMK 
            Metalurji's industrial site in Iskenderun implies a gradual increase in production. In total, it 
            is planned that the site will produce 200-260 thousand tonnes of hot-rolled steel in 2021, with 
            the unit reaching full capacity in 2022. 
            MMK Metalurji (an asset of the MMK Group), a modern steelmaking complex in Turkey, operates an 
            electric arc furnace facility with a casting and rolling module, a cold-rolling mill, 
            galvanizing and color coating lines, as well as two service centres in Iskenderun and Istanbul. 
            The Iskenderun production site also features a sea port that can accommodate ships of up to 
            100,000 deadweight tonnage (dwt) and is used to supply raw and input materials to the plant as 
            well as ship products to customers. 
About MMK 
MMK is one of the world's largest steel producers and a leading Russian metals company. 
The Group'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 
premium products. In 2020, MMK produced 11.6 mln tonnes of crude steel and sold 10.8 mln Subscribe to our official MMK 
tonnes of commercial steel products.                           channel in Telegram, to be 
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??K is an industry leader in terms of production costs and margins. Group revenue in 2020 MMK news. 
totalled USD 6,395 mln, with an EBITDA of USD 1,492 mln. MMK boasts the industry's lowest 
debt burden. Net debt/EBITDA ratio was -0.06? at the end of 2020. The Group's 
investment-grade rating is confirmed by the leading global rating agencies Fitch, Moody's 
and S&P. 
MMK's ordinary shares are traded on the Moscow Exchange, while its depositary receipts 
are traded on the London Stock Exchange. Free float amounts to 18.7%. 
 
                   KEY UPCOMING EVENTS IN 2021 
Investor Relations Department 
                   Financial calendar 
Veronika Kryachko 
[phone] 
[e-mail] 
                   14 July    Q2 and 6M 2021 Trading Update 
 
                   22 July    Q2 and 6M 2021 IFRS financials 
ESG DEPARTMENT 
                          Virtual conference for retail investors, 
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[phone]                   VTB Capital 
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                   28-29 July  Non-deal roadshow (NDR), online 
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ISIN:     US5591892048 
Category Code: UPD 
TIDM:     MMK 
LEI Code:   253400XSJ4C01YMCXG44 
Sequence No.: 116803 
EQS News ID:  1217500 
 
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July 12, 2021 05:57 ET (09:57 GMT)