Leading Russian miner & steel maker Metalloinvest has announced USD 5.7 billion Ebidta for 2021. Metalloinvest CEO Mr Nazim Efendiev said “The past year has been significant for us for several reasons. In 2021, Metalloinvest celebrated its 15th anniversary. The Company became the global leader in iron ore reserves, the first globally in the production of commercial hot briquetted iron, and the second largest pellets producer in the world. The financial year ended with a record EBITDA in the Company's history, reaching USD 5.75 billion, the leverage was reduced to 0.45x, and three international agencies upgraded the Company's credit rating to investment grade.”----------------------2021 HIGHLIGHTS----------------------Revenue - USD 10,604 million, up 65.4% YoYEBITDA - USD 5,754 million, up 2.3x YoYEBITDA margin - 54.3%, up 15.7 pp YoYNet income - USD 4,116 million, up 3.1x YoY---------------------------------Operational developments---------------------------------Iron ore production amounted to 40.8 million tonnes, an increase of 0.8% YoYPellet production increased by 3.4% YoY and reached 28.5 million tonnesHBI/DRI production remained unchangedIn February 2021, Mikhailovsky HBI (45% owned by Mikhailovsky GOK4) signed a contract with Midrex and Primetals for the supply of equipment for the one of the world’s largest HBI plants. The plant is designed to produce 2.08 million tonnes of HBI per year, and its launch is expected in H1 of 2024.In October 2021, Metalloinvest signed a contract to supply equipment to the new HBI Plant (HBI-4) at LGOK. Project capacity is 2.08 million tonnes of HBI per year and production is set to start in Q1 of 2025.In 2021 the Company became a world leader in the iron ore reserves. New reserves amounted to 15.4 billion tonnes in accordance with international J0RC 2012 standard.
Leading Russian miner & steel maker Metalloinvest has announced USD 5.7 billion Ebidta for 2021. Metalloinvest CEO Mr Nazim Efendiev said “The past year has been significant for us for several reasons. In 2021, Metalloinvest celebrated its 15th anniversary. The Company became the global leader in iron ore reserves, the first globally in the production of commercial hot briquetted iron, and the second largest pellets producer in the world. The financial year ended with a record EBITDA in the Company's history, reaching USD 5.75 billion, the leverage was reduced to 0.45x, and three international agencies upgraded the Company's credit rating to investment grade.”----------------------2021 HIGHLIGHTS----------------------Revenue - USD 10,604 million, up 65.4% YoYEBITDA - USD 5,754 million, up 2.3x YoYEBITDA margin - 54.3%, up 15.7 pp YoYNet income - USD 4,116 million, up 3.1x YoY---------------------------------Operational developments---------------------------------Iron ore production amounted to 40.8 million tonnes, an increase of 0.8% YoYPellet production increased by 3.4% YoY and reached 28.5 million tonnesHBI/DRI production remained unchangedIn February 2021, Mikhailovsky HBI (45% owned by Mikhailovsky GOK4) signed a contract with Midrex and Primetals for the supply of equipment for the one of the world’s largest HBI plants. The plant is designed to produce 2.08 million tonnes of HBI per year, and its launch is expected in H1 of 2024.In October 2021, Metalloinvest signed a contract to supply equipment to the new HBI Plant (HBI-4) at LGOK. Project capacity is 2.08 million tonnes of HBI per year and production is set to start in Q1 of 2025.In 2021 the Company became a world leader in the iron ore reserves. New reserves amounted to 15.4 billion tonnes in accordance with international J0RC 2012 standard.
