MMK Moves Up in National Rating

30 September 2019 (09:15)

UrBC, Magnitogorsk, September 30, 2019. Magnitogorsk Iron & Steel Works (MMK) came 26th in RBC 500 rating of Russia’s largest companies as of the year 2018, MMK’s Information & PR Department reports.

The company, with its RUB 515bn in consolidated revenues in 2018, moved one position up in the rating against one year previously.

‘The primary criterion used for the ranking was the companies’ net revenue (excluding VAT, excise duty payments, and customs duties). For companies in the finance sector (banks, insurers, stock exchanges, investment funds, and so on), accumulated operating income figures were used in place of revenue parameters,’ MMK explains.

The rating features parent enterprises of holdings whose consolidated reports include data on both the parent company and daughter enterprises. The accumulated profits of Russia’s five hundred largest companies on RBC 500 list amounted to RUB 85.5 trillion (82.3% of Russia’s GDP in 2018). MMK Group’s revenues amounted to $8.214bn and its EBITDA to $2.418bn in 2018.

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