Magnitogorsk Iron & Steel Works becomes Russian market’s capitalization leader

22 October 2007 (13:57)

Magnitogorsk Iron & Steel Works (MMK) was rated 16th among Russia’s top 200 largest companies featured in Capitalization-200 ranking published by the Expert magazine, MMK’s press officer reports.

The company’s capitalization reached 329.1 billion RUR ($12.831bn) on August 31, 2007. This is sixteenth best result; last year, the company was rated seventeenth. As regards the Expert-400 rating that comprises Russia’s largest companies with the best sales figures, MMK was given the 19th position in 2006. This is one point up from the previous year’s results as well. Then, the company’s revenues reached 174.668 billion RUR ($46.424bn) in 2006. Magnitogorsk Iron & Steel Works was also given the 14th position on Russia’s Top 20 Most Profitable Companies list against the previous year’s 11th position.

Expert 400 annual rating covers enterprises that operate in all fields of economy and rates the companies according to the volume of sales of products and services in 2006. The method used for compiling the rating was approved of by PriceWaterhouseCoopers. MMK is always present in the rating and is always among the country’s top twenty enterprises.

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