Metinvest increased revenues by 1.6% in July

In July 2021, Metinvest B.V., the holding company of the Metinvest Group, ramped up its revenues by 1.6% to $1.75 billion compared to June, according to the financial results published on the Group’s website.

The steel segment’s contribution in Metinvest B.V.’s revenues in July was $1.36 billion, 4.5% up from June.

In July, Metinvest earned:

• a $70 million from the resale of 94 thousand tons of square billets;
• $254 million from the resale of 225 thousand tons of flat products;
• $67 million from the resale of 79 thousand tons of long products;
• $44 million from the resale of 53 thousand tons of cold pig iron.

In total, in July the Company sold 370 thousand tons of semi-finished products worth $287 million, 809 thousand tons of finished metal products worth $913 million, 186 thousand tons of coke worth $87 million, 1.44 million tons of iron ore worth $233 million and 82 thousand tons of coal concentrate worth $12 million.

Metinvest’s EBITDA in July ramped up by 3.4% to $963 million against the previous month.

Metinvest B.V.’s debt fell from $2.459 billion to $2.449 billion. The amount of cash grew by $631 million to $2.074 billion.

The Company spent $314 million for investment and $22 million for financial activities.

In 2020, Metinvest B.V. increased its net profit by 54% to $526 million y-o-y. Its revenue in 2020 was $10.45 billion, 3% down from 2019.

Metinvest Holding LLC is the managing company of the Metinvest Group. The major shareholders of Metinvest are its co-managing companies SKM Group (71.24%) and Smart Holding (23.76%).