Ukrainian steel maker Metinvest announced that its revenue in the six months ended 30 June 2021 surged by 70% YoY to USD 8,470 million resulting in net profit of USD 2,769 million as compared to minus USD 240 million in H1 of 2020. Metinvest CEO Mr Yuriy Ryzhenkov said “Against a backdrop of global economic recovery and rising commodity prices, the Group delivered commendable results in the first half of 2021. Operationally, the figures were strong. Amid greater production at the two Mariupol plants, Azovstal and Ilyich Steel, Metinvest’s hot metal output increased by 8% YoY to 4,405 kt and crude steel output by 10% to 4,358 kt. Improved performance at all iron ore assets drove up the Group’s iron ore concentrate production by 5% to 15,864 kt. In addition, following the consolidation of Pokrovske Coal in March 2021, overall coking coal concentrate output soared by 76% to 2,705 kt. Financially, amid this and strong steel and iron ore prices, the numbers were also decent. Consolidated revenues increased by 70% YoY, driving a rise in profitability.”H1 of 2021 – Production ResultsCrude steel - USD 4,358 million, up 10% YoYAzovstal - USD 2,240 million, up 9% YoYIlyich Steel - USD 2,118 million, up 11% YoYIron ore concentrate - USD 15,864 million, up 5% YoYNorthern GOK - USD 6,782 million, up 7% YoYIngulets GOK - USD 6,566 million, up 2% YoYCentral GOK - USD 2,516 million, up 6% YoYCoking coal concentrate – USD 2,705 million, up 76% YoYUnited Coal - USD 1,516 million, down 1% YoYPokrovske Сoal - USD 1,189 millionIn March, Metinvest obtained control over Pokrovske Coal, the largest high-quality coking coal producer in Ukraine, by exercising an option. Pokrovske Coal comprises several entities. As of 30 June 2021, the Group’s effective interests in the main entities acquired were 99.22% in Pokrovske Colliery and 99.57% in Sviato-Varvarynska Beneficiation Factory.In August, after the end of the reporting period, Metinvest acquired assets relating to the integral property complex of Dneprovsky Iron & Steel Integrated Works in Kamianske, Ukraine, for around USD 340 million. The production capacity of the acquired assets includes 3.2 million tonnes of crude steel a year.In August, after the reporting period, Ingulets GOK launched a new crusher and conveyor system on the Eastern conveyor line.
Ukrainian steel maker Metinvest announced that its revenue in the six months ended 30 June 2021 surged by 70% YoY to USD 8,470 million resulting in net profit of USD 2,769 million as compared to minus USD 240 million in H1 of 2020. Metinvest CEO Mr Yuriy Ryzhenkov said “Against a backdrop of global economic recovery and rising commodity prices, the Group delivered commendable results in the first half of 2021. Operationally, the figures were strong. Amid greater production at the two Mariupol plants, Azovstal and Ilyich Steel, Metinvest’s hot metal output increased by 8% YoY to 4,405 kt and crude steel output by 10% to 4,358 kt. Improved performance at all iron ore assets drove up the Group’s iron ore concentrate production by 5% to 15,864 kt. In addition, following the consolidation of Pokrovske Coal in March 2021, overall coking coal concentrate output soared by 76% to 2,705 kt. Financially, amid this and strong steel and iron ore prices, the numbers were also decent. Consolidated revenues increased by 70% YoY, driving a rise in profitability.”H1 of 2021 – Production ResultsCrude steel - USD 4,358 million, up 10% YoYAzovstal - USD 2,240 million, up 9% YoYIlyich Steel - USD 2,118 million, up 11% YoYIron ore concentrate - USD 15,864 million, up 5% YoYNorthern GOK - USD 6,782 million, up 7% YoYIngulets GOK - USD 6,566 million, up 2% YoYCentral GOK - USD 2,516 million, up 6% YoYCoking coal concentrate – USD 2,705 million, up 76% YoYUnited Coal - USD 1,516 million, down 1% YoYPokrovske Сoal - USD 1,189 millionIn March, Metinvest obtained control over Pokrovske Coal, the largest high-quality coking coal producer in Ukraine, by exercising an option. Pokrovske Coal comprises several entities. As of 30 June 2021, the Group’s effective interests in the main entities acquired were 99.22% in Pokrovske Colliery and 99.57% in Sviato-Varvarynska Beneficiation Factory.In August, after the end of the reporting period, Metinvest acquired assets relating to the integral property complex of Dneprovsky Iron & Steel Integrated Works in Kamianske, Ukraine, for around USD 340 million. The production capacity of the acquired assets includes 3.2 million tonnes of crude steel a year.In August, after the reporting period, Ingulets GOK launched a new crusher and conveyor system on the Eastern conveyor line.
