Leading Russian mining & steel group Mechel has announced EBIDTA of USD 1.2 billion for 2021. Mechel PAO's Chief Executive Officer Mr Oleg Korzhov said “Mechel’s steel division in 2021 decreased pig iron output by 10% and slightly decreased steel production due to planned repairs to major equipment in Chelyabinsk Metallurgical Plant’s blast furnace and converter workshops, as well as the decrease in intra-group steel supplies. These factors led to an overall decrease in sales year on year. The Group’s consolidated revenue in 2021 amounted to 402.1 billion rubles, up by 51% year-on-year. EBITDA was 118.9 billion rubles, demonstrating a 190% growth year-on-year. EBITDA margin was 30%, doubling the EBITDA margin of 2020. Favorable trends on steel and metallurgical commodity markets were the key driver for the improvement of the Group’s financial results. On average, the prices for our facilities' steel products went up by 60% year-on-year. Average coking coal concentrate prices doubled.”-------------------2021 Highlights-------------------ROM Coal Production - 11.347 million tonnes, down 34% YoYPig iron Production - 3.163 million tonnes, down 10% YoYSteel Production - 3.537 million tonnes, down 3% YoYRevenue -RUB 402.1 billion, up 51% YoYEBITDA – RUB 118.9 billion, up 190% YoYProfit - RUB 80.6 billion, up by RUB 79.8 billion YoY
Leading Russian mining & steel group Mechel has announced EBIDTA of USD 1.2 billion for 2021. Mechel PAO's Chief Executive Officer Mr Oleg Korzhov said “Mechel’s steel division in 2021 decreased pig iron output by 10% and slightly decreased steel production due to planned repairs to major equipment in Chelyabinsk Metallurgical Plant’s blast furnace and converter workshops, as well as the decrease in intra-group steel supplies. These factors led to an overall decrease in sales year on year. The Group’s consolidated revenue in 2021 amounted to 402.1 billion rubles, up by 51% year-on-year. EBITDA was 118.9 billion rubles, demonstrating a 190% growth year-on-year. EBITDA margin was 30%, doubling the EBITDA margin of 2020. Favorable trends on steel and metallurgical commodity markets were the key driver for the improvement of the Group’s financial results. On average, the prices for our facilities' steel products went up by 60% year-on-year. Average coking coal concentrate prices doubled.”-------------------2021 Highlights-------------------ROM Coal Production - 11.347 million tonnes, down 34% YoYPig iron Production - 3.163 million tonnes, down 10% YoYSteel Production - 3.537 million tonnes, down 3% YoYRevenue -RUB 402.1 billion, up 51% YoYEBITDA – RUB 118.9 billion, up 190% YoYProfit - RUB 80.6 billion, up by RUB 79.8 billion YoY
