MMK’s Net Profit Up 10.7%

UrBC, Magnitogorsk, August 8, 2017. Magnitogorsk Iron & Steel Works’ (MMK) net profit amounted to $538m in the first half of the year, which exceeded the figures for one year earlier by 10.7%, the company website states.

The plant’s EBITDA (adjusted against the sale of FMG shares in 2016) rose by 29.2%, up to $907m, while its revenues rose by 37.8%, up to $3.586bn.

MMK is currently one of the world’s largest steel manufacturers and Russia’s ferrous metallurgical market leader. The company’s assets comprise a major full-production-cycle metallurgical facility, In 2016, the plant’s steel output increased by 2.5%, up to 12,500,000,000 kg.

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