Metalloinvest Steel Production Touches 5 Million Tonne in 2020
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Metalloinvest Steel Production Touches 5 Million Tonne in 2020

Leading Russian iron ore miner & steel maker Metalloinvest has announces its audited financial results under IFRS for 2020. Metalloinvest CEO Mr Nazim

Leading Russian iron ore miner & steel maker Metalloinvest has announces its audited financial results under IFRS for 2020. Metalloinvest CEO Mr Nazim Efendiev said “In 2020, the Company's strategy aimed at improving product quality and ensuring stable sales has demonstrated its sustainability. Despite external challenges, the Company has shown good financial results. The main event of the past year was the COVID-19 pandemic, and the Company took a number of measures aimed at ensuring the safety of not only its employees, but also all residents of the regions where it operates. Extensive programs of assistance to medical institutions were promptly deployed, and employee salaries were indexed twice. Continuing its focus on sustainable development, in February of this year, the Company presented the Strategy for Qualitative Changes, calculated until 2032. Metalloinvest's mission is to be the basis for the evolution of modern metallurgy for future generations.”

Financial results

Revenue USD 6,409 million (-7.9%)

EBITDA USD 2,471 million (-1.7%)

EBITDA margin 38.5% vs. 36.1% in 2019

Net profit USD 1,337 million (-22.8%)

Production results

Iron ore 40.4 million tonnes (+ 0.5%)

Pellets 27.6 million tonnes (-1.8%)

HBI & DRI 7.8 million tonnes (-0.9%)

Pig iron 2.3 million tonnes (-16.3%)

Steel 5.0 million tonnes (+ 2.0%)

Operations and capital expenditures

Commissioning of CCM No 3 at OEMK after completion of technical re equipment

Modernization of the concentrator at MGOK to increase concentrates production

Reconstruction of OM-3 at MGOK to introduce advanced technology for additional grinding of concentrate

MGOK starts pilot production of premium pellets for metallization

OEMK completed overhaul of the roasting machine, launched a new ball rolling mill

MGOK has introduced an advanced conveyor technology for transporting ore from a pit with a capacity of 15 million tonnes of ore per year

New steam boilers at Ural Steel launched at CHPP

After technical re-equipment, blast furnace No 2 was put into operation at Ural Steel

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